CA Priyanka Jain (CA) (198 Points)
20 March 2012Hello,
One of our client is registered in Service tax as service provider & service receiver...
My query is whether limit of Rs. 10lakh is separately available. As he is already paying service tax on service provided by him and he has received service this year only... so whether he is required to pay service tax on service received or not.
Thanks
Priyanka
CA.Ganesh
(Practicing Chartered Accountant)
(308 Points)
Replied 24 March 2012
CA.Ganesh
(Practicing Chartered Accountant)
(308 Points)
Replied 24 March 2012
m n kumar
(accountant assist)
(21 Points)
Replied 20 April 2012
Dear Madam
One of our client is service receiver of renting property my query is i have to calculate the service tax (exemption lemit is1000000) we have to ignore the exemption lemit then we calculate the service tax or not
Ramesh Ponnusamy
(GST Practitioner)
(43 Points)
Replied 23 June 2012
Serivce tax limit is Rs.10 lakh or 15 lakh
RENGARAJ R.K
(ADVOCATE)
(7557 Points)
Replied 23 June 2012
The threshold limit is ten lacs. The service tax can be collected when rent bill is raised. Any municipal tax paid can be deducted while calculating the rent amount for the let-out premises. Only for commercial purpose, service tax is applicable.
rengaraj r.k
Rajendra Singh
(Accountant)
(201 Points)
Replied 08 August 2012
Dear Sir
what is the service tax exeption Limit
RENGARAJ R.K
(ADVOCATE)
(7557 Points)
Replied 08 August 2012
Dear Mr Rajendra singh, Threshold limit means exemption limit. So, 10 lacs is the exemption for all categories, except brand name holder.
John Silveira
(Manager - Accounts)
(34 Points)
Replied 09 August 2012
Dear Sir,
With the introduction of the negative list, does the threshhold limit of Rs.10 lakhs continues to remain in force or it ceases to continue?
RENGARAJ R.K
(ADVOCATE)
(7557 Points)
Replied 10 August 2012
Dear Mr John Silveira,
The exemption limit continues now also. The rule is slightly changed. Now the limit of 10 lacs is invoice based and not receipt based. So, whether you receive the money or not, if you reach 10 lacs, you are liable to be registered under the Act.
J B
(Se)
(23 Points)
Replied 20 September 2012
Dear Sir,
if the service provider being a new company, registers itself under service tax right at the beginning of its operation but the limit if Rs.10,00,000/- is not exhausted yet. Under the circumstances,
(1) how does the company raise its invoices, with or without service tax ?
(2)Whether the company needs to file monthly return under the circumstances or it can commence filing monthly return once the limit is breached? Please clarify.
Aman Jaiswal
(Article)
(22 Points)
Replied 30 September 2012
Sir
If a person has 6lakh receipts from a service exempted under mega notification and another 6lakhs receipt from a taxable service.
How his liability will be determined???
Vinayak Gurav
(Sr. Accountant Off)
(77 Points)
Replied 24 February 2014
PF & ESI Course - Labour Code 2019 Along with Examples and Case Studies
CAclubindia
