TaxTMI 
TaxTMI 
Service tax chargiability - benefit of exemption limit
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....ervice tax chargiability - benefit of exemption limit<br> Query (Issue) Started By: - CA ATUL JAIN Dated:- 9-3-2007 Last Reply Date:- 12-3-2007 Service Tax<br>Got 1 Reply<br>Service Tax<br>Thanks, for the reply, from your reply it is clear that definition of , "aggregate value of taxable services" as defined in Notif. No. 26/2005 & 27/2005 has no bearing on the same term given in condition no. (vi....
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....ii) of the Notif. No.6/2005. Further from your reply another question arises as under : 1. Total taxable Billing in year 2006-07 : Rs. 7 lacs, Hence now we can avail benefit of exemption upto Rs.8 lacs, Then in year 2007-08, We received payment of Rs. 11 lacs ( out of which Rs.2 lacs is for the billing done in year 2006-07), while balance payment received is for the billing in year 2007-08. Under ....
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....above circumstances, I believe foll. need to be done : 1. deposit service tax on Rs.2 lacs received for billing done in year 2006-07. 2. deposit service tax on Rs.1 lacs ( Rs.9 lacs - Rs.8 lacs) for the payment received against billing done in year 2007-08. Am I right ? and further I need to charge service tax on my billing once I cross the limit of Rs.8 lacs whether or not I have received the p....
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....ayment of Rs.8 lacs till that time for the services rendered in the year 2007-08. Pls. clarify. Reply By Surender Gupta: The Reply: Since, your received would be Rs. 11 lacs, you are required to pay service tax on Rs. 3 lacs (i.e the amount exceeds Rs. 8 lacs)and till your receipts do not reaches the limit of Rs. 8 lacs, you are not required to pay service tax under notification no. 6/2005 (F. Y....
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..... 2007-08)<br> Discussion Forum - Knowledge Sharing ....