One of my client is providing Management Consultancy services for the last 4-5 years in the name of his sole proprietory firm and is already having ST Registration in the name of his Sole Proprietory Firm. The value of taxable services during fin. year 2008-09 and 2009-10 were less than Rs.6.00 lacs each year, hence no service tax liability.
Now he has purchased one commercial office and given it on monthly rent of Rs. 20,000/- w.e.f. 1st December 2010. Is he required to get this rental service also registered under service tax or not? If yes, will it be in his individual name or he has to get endorsement on his existing ST Registeration in the name of Sole Proprietory Firm. During current financial year, total value of services provided/ to be provided including Rental income will be less than Rs.9.00 lacs.
Is there any time limit for applying for new ST registration or for endorsement in existing ST Registration? Please clarify.
Thanks
CAclubindia
