Dear Sir,
My doubt is like this
Where service tax payable is opted on receipt basis as per 3rd proviso of the (ii)(1) 6 and for checking the registration criteria is also on receipt basis checked or accrual basis?
Eg: during the year actual receipt is ₹ 7,50,000/- and accrual basis say 12,00,000/- since i am paying service tax on receipt basis hence my T/o is below the prescribed limit for registration under Service Tax. Or should I liable for registration on accrual basis T/o which is > 10 lacs as stated above?
It is urgent please provide your valuable opinion.
Thank You in advance
Service Tax Registration Must Be Based on Turnover, Not Receipts, Exceeding 9 Lakh as per Notification 33/12-ST. A query was raised about whether service tax registration should be based on receipt or accrual basis when paying service tax on a receipt basis. The individual had actual receipts of 7,50,000 and accruals of 12,00,000, questioning if registration is required as the accrual exceeds 10 lakh. A response clarified that registration should be based on turnover, not receipts, and should have been applied for once 9 lakh was exceeded, as per Notification No. 33/12-ST. The clarification emphasized that the receipt basis is only for payment, not registration criteria. (AI Summary)
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