Benefit of threshold limit to Rs.8 lacs

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..... I am providing taxable services and for the year 2006-07, the status of my billings and receipts for taxable services are as under : 1. Total taxable Billing : Rs. 9.50 lacs 2. Total consecutive payments received : Rs. 9 lacs ( Out of this Rs.2 lacs pertain to the Bills raised for taxable services in financial year prior to 2006-07),hence payments received for bills raised in year 2006-07 is Rs.7 .....

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..... lacs. On going thru the notif. No. 26/2005 and Notif No. 6/05 which defines aggregate value of taxable services and aggregate value not exceeding four lacs rupees as the sum total of first consecutive payments received during a financial year towards the gross amount,as prescribed under sec-67 of the act , charged by the service provider towards taxable service but . , we are under impr .....

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..... ession that in our case , we can avail the benefit of threshold limit being raised to Rs.8 lacs, as payments received by us for the Bills raised in year 2006-07 is only Rs. 7 lacs which does not exceed the limit of Rs.8 lacs. Am I right ? - Reply By Surender Gupta - The Reply = Since you have rendered the services in the financial year 2006-07 for the value exceeding rs. 8 lacs, you are not entit .....

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..... led to get any exemption in the financial year 2007-08 irrespective of the amount received actually in the financial year 2006-07. - Benefit of threshold limit to Rs.8 lacs - Query Started By: - atul jain Dated:- 6-3-2007 Service Tax - Got 1 Reply - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanage .....

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..... ment - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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