applicability of Service Tax

[satish kumar]

sir,

i want to now that how to Service Tax applicable and what is limit required to registration in Service Tax and its procedure.

 

[YAGAY and SUN]

For getting the registration, the threshold limit is Rs. 9.00 lacs and for charging perspective it is Rs. 10,00,000/-

Service Tax is applicable on the services which have been duly mentioned in the Finance Act, 1994 as amended time to time.

From 1st July 2012 onwards, Service Tax will be levied on the basis of Negative list.   It means that services mentioned in the Negative list will not attract any service tax and all other services will be (except mentioned in the negative list) taxable.

[satish kumar]

thanks for prompt respone

AI Summary

Service tax registration threshold and charging limit clarified; negative-list regime makes all non-listed services taxable. Applicability of Service Tax concerns registration and charging thresholds and the scope of taxable services. Service tax applies to services enumerated under the governing statute. From 1 July 2012 the levy operates on a negative list basis: services listed in the Negative List are not taxable, while all other services are taxable.