How to calculate threshold exemption limit of 10 lakh

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..... How to calculate threshold exemption limit of 10 lakh
Query (Issue) Started By: - samiuddin ansari Dated:- 10-1-2017 Last Reply Date:- 10-1-2017 Service Tax
Got 3 Replies
Service Tax
Sir, An unregistered service provider engaged in providing taxable services i.e.Business auxiliary service and Restaurant service have been asked by the tax consultant to get themselves registered with S .....

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..... ervice Tax. I have some confusion on this aspect. In fact, they have a turnover of ₹ 6 lakhs in providing Business auxiliary service and ₹ 7 lakhs as income from Restaurant service in the last F.Y-2015-16. For calculating the threshold exemption limit as provided under Notification No.33/2012-S.T whether a total amount of ₹ 15 lakhs is to be taken into consideration for total tax .....

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..... able value or ₹ 08.80 lakhs i.e. ₹ 6 lakhs plus ₹ 2.8 lakhs (40% of Restaurant service income after allowing abatement of 60%). Thanks with regard. Reply By KASTURI SETHI: The Reply: Total turnover of of both (without abatement) is to be considered for computing threshold exemption limit of ₹ 10 lakhs. It is natural that an assessee is eligible for abatement only after h .....

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..... e is registered with Service Tax department. It is not possible to avail abatement without registration. You are required to apply for registration as soon as you cross ₹ 9 lakhs. Reply By Rajagopalan Ranganathan: The Reply: Sir, I agree with the views expressed by Shri. Sethi Sir. Reply By Ganeshan Kalyani: The Reply: I am also of the same view as expressed by learned experts. Thanks.< .....

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