ALOK RATNA (CHIEF CONSULTANT) (190 Points)
28 March 2011I want to confirm that what is the threshold for Service tax applicability rs. 10 lakhs or rs,. 12 lakhs.
Also if the service tax for last quarter is not paid by 31.03.2011, then whether there will be any penalty other than interest on the amount due and if yes then what is the penalty amount at present..???
Murtaza I Bhagat
(Tax & Finance Consultant)
(10523 Points)
Replied 28 March 2011
yes its 10 lacs thresshold limit but you have to get registered when you cross 9 lacs.
Pinky Agarwal
(Chartered Accountant)
(426 Points)
Replied 29 March 2011
No any other penalty is leviable. Only service tax along with interest is to be paid.
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