Dear Members,
Somebody mentioned to me that if a firm has revenue of 8 lakhs then it is not required to pay service tax.
Could any body highlight the minimum revenue a firm needs to generate to pay the service tax.
thanks for your help.
Thanks
Ratan
From India, Bangalore
Somebody mentioned to me that if a firm has revenue of 8 lakhs then it is not required to pay service tax.
Could any body highlight the minimum revenue a firm needs to generate to pay the service tax.
thanks for your help.
Thanks
Ratan
From India, Bangalore
According to the present law, the minimum turnover requirement for mandatory coverage under the Service Tax provisions is Rs. 10 lacs.
An assessee is liable to get himself or his organization registered under Service Tax as soons as his turnover reaches Rs. 9 lacs.
He has to pay the service tax once his turnover reaches Rs. 10 lacs.
Hope this would help you.
Thanks & Regards,
Avika
From India, New Delhi
117An assessee is liable to get himself or his organization registered under Service Tax as soons as his turnover reaches Rs. 9 lacs.
He has to pay the service tax once his turnover reaches Rs. 10 lacs.
Hope this would help you.
Thanks & Regards,
Avika
From India, New Delhi
Rs 10 lakh condition is for the previous financial year, means if you are providing service of Rs.8.5 lakh every year you would not be required to pay service tax life time, but once you have crossed 10 lakh then in the next year you have to pay service tax for value of 2 lakh services also...
For Detail you can mail @ rahool.ramchandani@gmail.com
From India, Chennai
For Detail you can mail @ rahool.ramchandani@gmail.com
From India, Chennai
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