Ser tax
Asha
(Querist) 26 December 2011
This query is : Resolved
Dear Members Good Morning,
The Facts are as below:
1.I have a service tax registration number .
2.That My Gross Value of Taxable Service Tax during the peirod of Apr.2011 to Sept.2011 is less than Rs. 10.00 lakh, and also proor to that period.
3. Can I claim Exemption on the basis of gross Value of which is Less than Rs. 10.00 lakh during current fiancial year and to that of any prceeding financial year.
4. Should I have to pay tax or claim exemption from paying tax even though Gross Receipt is below Rs. 10.00 lakh.
5. If so Please guide me how to claim exemption with notification no.
Thanks in advance.
prabhakar singh
(Expert) 26 December 2011
please stop asking uselessly.No commercial query also.
B.Chakrapani Warrier
(Expert) 27 December 2011
2. If value of taxable service exceeds Rs. 10 lakhs, ST has to be collected and paid in financial year 2011-12 on the excess above Rs. 10 lakhs.
3. Exemption for Rs. 10 lakhs can be claimed in current financial year.
4. No need to pay tax ,can claim threshold exemption.
5. Notification 6/2005 as amended by 8/2008 may be referred to.
Asha
(Querist) 28 December 2011
thanks a lot chakrapani sir for reply...
soumitra basu
(Expert) 30 December 2011
Is it true that if the value of the turnover exceeds rs.10.00 lacs then tax has to be paid only on the amount in excess of Rs. 10.00 lacs
