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When to apply for service tax no.

Queries 726 views 3 replies

B.K.Ray

Student CS

42 Points Joined October 2012

Respected Sirs

My uncle is starting an architectural company (Pvt Ltd) . He has already applied for pan card. Can anyone suggest when to apply for service tax no and this will be applied as Architect or Company ??

Waiting for valuable replies. I have heard that after crossing 10 lakh deposit in bank account, service tax will be deducted.

Please suggest

Ray BK

Replies (3)

CA Pooja Agarwal

Chartered Accountant

3228 Points Joined August 2011

its not 10 lakhs as deposits in bank but 10 lakhs of turnover..you are liable to pay ST once the turnover crosses the threshhold limit of 10 lakhs.

you are require to register with ST authorities once ur turnover exceeds 9 lakhs

CA Pooja Agarwal

Chartered Accountant

3228 Points Joined August 2011

you should register as a company

Guest

Service tax registration has to be done once you exceed Rs. 9 Lakh of turnover.Charging of service tax on clients should be done once the turnover exceeds RS. 10 Lakh.

Service Tax Registration should be done as a company as Ms. Pooja said.

As it is a company, there is no chance for charging service tax on receipt basis. So it is not Rs. 10 Lakh received in bank but Rs. 10 Lakh worth of bills booked.