Unicorn (Business) (154 Points)
24 December 2013VCES
I don't have a Service Tax Reg. Code.
For the year 2010-11, my income was 11L, which means it was above the ST limit. But I did not have Service Tax Number back in 2010-11, nor do I have the number now.
Should I go for VCES and pay the ST due for 2010-11? or its not necessary?
CA Kedar Sakhardande
(Proprietor)
(942 Points)
Replied 24 December 2013
You need to mention what is the position in subsequent years. after 10-11? whether service tax is payable or otherwise.
In case you opt to get the registration and pay for 10-11 service tax you may be paying service tax only on Rs. 2.00 lacs (11 lacs -9 lacs) say Rs. 22,000 and save interest and penalty thereon. But the issue is you need to file service tax returns irresptive of service tax liability after that and as such have to pay penalty for late filing (please note that the scheme is valid for liability only upto Dec-12. (the last date of application and payment of first installment is 31/12/2013. So you need to hurry.
So you may take a call on the issue.
CAclubindia
