Balaji Subbu (SAP FICO) (220 Points)
05 September 2016Dear Professional Friends
Please let me know your inputs.
Shall we get Service Tax Registration Number or Not needed?
Pls let me know in you need any more info in this regards
Adv Thanks
Balaji Subbu
Mukesh Kumar
(Accounts Manager)
(1466 Points)
Replied 09 September 2016
IF YOUR GROSS RECEIPT ABOVE 10 LAC THAN YOUR ARE LIABLE OTHERWISE NO
mohammad rasool baig
(Management Consultant)
(1026 Points)
Replied 10 September 2016
The latest circular clarifies this particular aspect – if a member is paying more than Rs. 5,000/- per month – service tax needs to be collected on entire amount and not just on the amount exceeding Rs. 5,000/-.. For example, if someone is paying Rs.5,100 the society is now liable for service tax of 5,100*12.36% = Rs. 630/-.
Couple of other clarifications as well which will reduce some confusion:
Service tax is only applicable on the amount collected from members whose contribution is more than 5,000/- per month per flat. If in a society there are members who are contributing less – the amount collected from them will not be liable for service tax.
Service Tax is not applicable where money is collected by society from members to pay to a third party purely as a convenience – like paying water bills issued to members in bulk.
Please follow the below-mentioned link
https://blog.apnacomplex.com/2014/01/22/jan-2014-circular-on-service-tax-on-dues-collected-from-members-in-apartment-associations/
As far as income concerned from common hall rent. Please let us understand clearly. So that we can help.
Balaji Subbu
(SAP FICO)
(220 Points)
Replied 16 September 2016
Hi Mohammad rasool
Thanks for your wonderful details.
We give our halls for RENT to our inside Owners (Marraige, Exhitbition, party ) for Rs 5000 per day.
Pls let me have your inputs wrt Ser Tax
Adv Thanks
Cheers
Balaji Subbu
CAclubindia
