Benefit of exemption limit - New services brought in service tax net w.e.f. 1.4.05

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..... THRESHOLD EXEMPTION LIMIT OF RS. 4 LACS W.E.F. 1.4.2005. IF AT ALL BUSINESS IS NEWER ONE AND PREVIOUS YEAR TAXABLE RECEIPTS IS NIL WHETHER BENEFIT OF EXEMPTION LIMIT OF RS. 4 LACS WILL BE RECEIVED. SIMILAR IN THE CASE OF NEW SERVICES BROUGHT IN SERVICE TAX NET W.E.F. 1.4.2005 AND IN EARLIER YEAR THE RECEIPTS FROM THE SERVICES ARE LESS THAN RS. 4 LACS WHAT WILL BE THE SITUATION - Reply By Surender .....

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..... Gupta - The Reply = You the business was not in existance, the turnover will be taken as NIL. Therefore even if there is a new business in the current year, you can avail the exemption to Rs. 4 lakhs as per notification no. 6/2005 dated 1/3/2005. This position will remain same even if you add a new service in the current year with other services. In that case, turnover of all the services new .....

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..... and old will be taken together for calculation of limit of Rs. 4 lakhs. In the like manner, if a service become taxable first time in the current year, situation would remain same and turnover of this service in the previous year would be taken. - Reply By Brijesh C Verma - The Reply = I Firmly agree to my learned brother Sri Surendra gupta Sahib. but the matter shall not be free from disputes an .....

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..... d show cause notice are bound to be issued by the department. - Benefit of exemption limit - New services brought in service tax net w.e.f. 1.4.05 - Query Started By: - RAJENDRA Dated:- 1-2-2006 Service Tax - Got 2 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia .....

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..... .com - TMI - TaxTMI - TMITax .....

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