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TMI BlogRegisteration and TaxabilityX X X X Extracts X X X X X X X X Extracts X X X X ..... Sir one of my client has registered under service tax in April 2015 and he has received rent from commercial property ₹ 20.00 Lakhs and he has started paying service tax after Crossing ₹ 10.00 Lakhs only on the assumption that, the first 10.00 lakhs is not liable for tax and he has not charged from the client too. is that correct? can u give any notifications for the same! - Reply B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y Shilpi Jain - The Reply = Only in the first year he crosses 10L he would not be liable to ST on the 10L. Next year onwards liability will exist on entire 20L - Reply By Ganeshan Kalyani - The Reply = Sir, in the first year of registration the threshold exemption of ₹ 10 lacs is available. That means you have to pay service tax on amount above ₹ 10 lacs. In the next year, since reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... istration is already there, service tax is to be charged right from first invoice. - Reply By KASTURI SETHI - The Reply = I agree with both experts. In this context, pl. refer to Notification No.33/12-ST dated 20.6.12 (effective from 1.7.12) (Clause No. viii refers.). Relevant extract of notification is appended below: Provided that nothing contained in this notification shall apply to,- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (viii) the aggregate value of taxable services rendered by a provider of taxable service from one or more premises, does not exceed ten lakh rupees in the preceding financial year. Preceding means previous, coming before something in order. - Reply By vignesh VSACCOUNTOPRIVATELIMITED - The Reply = Sir. 1. in a case where the previous year turnover was below 10 lakhs and for the curren ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t year the Rental income crosses 10 lakhs (ie 1. Bill.No.1. ₹ 9,35,000+ Bill.No. 2. ₹ 1,20,000/-) should we charge Service Tax for the last bill of ₹ 1,20,000/- or for an amount exceeding 10.00 lakhs i.e for ₹ 55,000/- alone 2. Registration is done on 30.09 2015 and client have an input service bill with Tax of ₹ 22,000/- dated 31.07.2015, can he claim the service tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... portion after he starts filing Service Tax Returns and paying Taxes during the financial year 2015-2016? - Registeration and Taxability - Query Started By: - vignesh VSACCOUNTOPRIVATELIMITED Dated:- 18-1-2021 Service Tax - Got 4 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xmanagementindia.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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