Re: [aurangabad_ca] SERVICE TAX QUARRY

Wednesday, March 3, 2010 3:07 AM By Livemail

 

Dear Torkaji
 
Reply to Your 1st Query :- The Small Scale service providers must make the application for registration within 30days of the date in the Financial Year in which the aggregate value of taxable services exceeded Rs. 9 lakhs. So in your case, the assessee may opt to register himself after crossing the above limit. Also refer Rule read with section 69 & notification no. 26/2005 st dated 7/6/2005
 
Reply to Your 2nd Query :-    Assessee has an option to avail exemption from tax leviable on taxable services of aggregate value not exceeding threshold limit of Rs 10 lakhs. in any financial year subject to the fulfillment of the condition specified in the notification 6/2005 dated 1-3-2005. Hence in your case assessee can avail the exemption limit of Rs 10 lakh for current year as well as in any of financial year and tax have to charge on & above the taxable service of Rs. 10 lakh.
 
 
Regards,
 
CA Anand Nahar
 
Shah Khandelwal Jain & Associates
Chartered Accountants,
 
C-6 Balaji Apartment, Behind Hotel Kohinoor Plaza, Nirala Bazar, Aurangabad - 431101
 
Tel: +91 240 2345597
 
Email: anand @ skjglobal.net
 
web: www.skjglobal.net
 
Please consider the environment before printing this e-mail. 1 ton of
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----- Original Message -----
Sent: Wednesday, March 03, 2010 3:34 PM
Subject: [aurangabad_ca] SERVICE TAX QUARRY

 

DEAR MEMBERS

I HAVE ONE SERVICE TAX QUARRY
- ONE OF MY CLIENT WAS REGISTERED UNDER SERVICE TAX , HOWEVER WHEN LIMIT INCREASE TO 10 LACS , HE SURRENDER THE NO 
- FOR F Y 2010 - 11 HE WANT TO RE REGISTER
- DURING F Y 2009 - 10 THE TURNOVER IS BELOW RS 9 LACS

QUARRY
- WHEN SHOULD HE APPLY FOR REGISTRATION , ON CROSSING THE LIMIT OF RS 9 LACS DURING F Y 2010 - 11 OR BEFORE 
- WHETHER THE BASIC EXEMPTION OF RS 10 LAC WILL BE AVAILABLE TO HIM,ie S TAX SHOULD BE CHARGED ON THE AMOUNT EXCEEDING 10 LACS OR BEFORE

REGARDS
V G TORKA

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