service tax

[V Sethuraman]

Kindly explain the eligibility for availing exemption for Rs. 10 lakhs per financial year for the Service Tax

AI Summary

Eligibility for Rs. 10 Lakh Service Tax Exemption Clarified: Registration Required if Services Exceed Rs. 9 Lakh Annually. A query was raised regarding the eligibility for a Rs. 10 lakh exemption per financial year under Service Tax. The response clarified that to avail the exemption, the value of taxable services must not exceed Rs. 10 lakh. Registration with the Service Tax Department is necessary if the value exceeds Rs. 9 lakh. The calculation involves the gross value of all services minus non-taxable and exempted services as per official notifications. The exemption applies per assessee and should not be divided among different divisions or offices.