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TMI BlogSmall Service Providers - Value Based Exemption upto 10 lakhsX X X X Extracts X X X X X X X X Extracts X X X X ..... xable Services provided in the previous year. ==================== A. Exemption amount- Who Can Avail the Exemption Small Service provider can claim exemption up to Rs. Ten lakh in a financial year. Any person, irrespective of its nature of services, can avail exemption under this notification. It is quite possible that a service provider may start providing a service in middle of the year; in this case he is entitled to avail full exemption for rest of the financial year. The exemption limit does not get proportionately reduced. ==================== B. Turnover of Rs. 10 lakh Before 1.4.2012 For the purpose of notification no. 6/2005 dated 1-3-2005, turnover of ₹ 10 lakhs is required to be calculated for two different purposes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... persons can not avail the exemption: -User of brand name or trade name of other -Where he is the receiver of Services, liable to pay tax on reverse charge basis u/s 68(2). "Brand name" or "Trade name" means a brand name or a trade name, whether registered or not, that is to say, a name or a mark, such as symbol, monogram, logo, label, signature, or invented word or writing which is used in relation to such specified services for the purpose of indicating, or so as to indicate a connection in the course of trade between such specified services and some person using such name or mark with or without any indication of the identity of that person. ==================== D. Special procedure for goods transport operator: Paragraph 3 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of taxable services for which service tax is payable; (v) the provider of taxable service who starts availing exemption under this notification shall be required to pay an amount equivalent to the CENVAT credit taken by him, if any, in respect of such inputs lying in stock or in process on the date on which the provider of taxable service starts availing exemption under this notification; (vi) the balance of CENVAT credit lying unutilised in the account of the taxable service provider after deducting the amount referred to in sub-paragraph (v), if any, shall not be utilised in terms of provision under sub-rule (4) of rule 3 of the said rules and shall lapse on the day such service provider starts availing the exemption under this not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th interest and penalty. ==================== G. Registration and Exemption Any person who is unregistered or a new service provider Any provider of taxable service whose aggregate value of taxable service in a financial year exceeds nine lakh rupees shall make an application to the jurisdictional Superintendent of Central Excise in such form as may be specified, by notification, by the Board, for registration within a period of thirty days of exceeding the aggregate value of taxable service of nine lakh rupees - Rule 3 of Service Tax (Registration of Special Category of Persons) Rules, 2005 Already Registered There is no provision in the Service Tax or Rule made there under which specifies the procedure of surrender of registration c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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