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TMI BlogAvailability of exemption limitX X X X Extracts X X X X X X X X Extracts X X X X ..... If monthly rent of commercial property is Rs. 1,10,000/-wef july,07 but I do not get rent for for feb mar,08. thereby total rent recd is Rs.7,70,000/-only till March,08 althogh bills raised upto mar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch,08 would be for Rs.990000/ crossing 8 lac exemtion limit. Query 1) As total receipt is less than 8 lac for 07-08, I need not pay any service tax for 07-08. 2)and again for 08-09, would I be entitle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d for first 8 lac exemption as aggregate value of taxable service was below 8 lac in pr.year(because as per notification dt 1-3-05, aggaregate value means the sum total of first cosecutive payments re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceived.) Is this view correct. - Reply By V Ramanujam - The Reply = As per the notification, exemption is available till the aggregate value of payments received crosses Rs.8 lakhs provided no tax is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... charged on to the customer and no CENVAT credit is claimed. 1) you are not lable to pay tax for the fin.year 07-08. (2) you are not liable to pay tax for the FY 08-09 till the receipts during the yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r crosses Rs.8 lakhs. - Availability of exemption limit - Query Started By: - CA. R.K.Aggarwal Dated:- 28-1-2008 Service Tax - Got 1 Reply - Service Tax - Discussion Forum - Knowledge Sharing, reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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