B.K.Ray (Student CS) (42 Points)
01 November 2012Respected 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
CA Pooja Agarwal
(Chartered Accountant)
(3228 Points)
Replied 01 November 2012
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)
Replied 01 November 2012
you should register as a company
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.
CAclubindia
