rahul saraf (Chartered accountants) (89 Points)
05 July 2011threshold for small service providers
for Fy 2009-10 gross receipts exceed > 10.00 lacs so service tax paid
for fy 2010-11 since the previous financial year > 10.00 lacs service tax collected and paid.
BUT for FY 2011-12 can i claim threshold exemption as my receipts/t.o for FY 2010-11<10.00 lacs and is predicted that will be less than 10.00 lac in the current fy11-12 too.
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 05 July 2011
Yes if the taxable services in the pr yr is less than 10 Lakhs then the exemption is available.
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