TaxTMI 
TaxTMI 
How to calculate threshold exemption limit of 10 lakh
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....ow to calculate threshold exemption limit of 10 lakh<br> Query (Issue) Started By: - samiuddin ansari Dated:- 10-1-2017 Last Reply Date:- 10-1-2017 Service Tax<br>Got 3 Replies<br>Service Tax<br>Sir, An unregistered service provider engaged in providing taxable services i.e.Business auxiliary service and Restaurant service have been asked by the tax consultant to get themselves registered with Se....
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....rvice Tax. I have some confusion on this aspect. In fact, they have a turnover of ₹ 6 lakhs in providing Business auxiliary service and ₹ 7 lakhs as income from Restaurant service in the last F.Y-2015-16. For calculating the threshold exemption limit as provided under Notification No.33/2012-S.T whether a total amount of ₹ 15 lakhs is to be taken into consideration for total taxa....
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....ble value or ₹ 08.80 lakhs i.e. ₹ 6 lakhs plus ₹ 2.8 lakhs (40% of Restaurant service income after allowing abatement of 60%). Thanks with regard. Reply By KASTURI SETHI: The Reply: Total turnover of of both (without abatement) is to be considered for computing threshold exemption limit of ₹ 10 lakhs. It is natural that an assessee is eligible for abatement only after he....
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.... is registered with Service Tax department. It is not possible to avail abatement without registration. You are required to apply for registration as soon as you cross ₹ 9 lakhs. Reply By Rajagopalan Ranganathan: The Reply: Sir, I agree with the views expressed by Shri. Sethi Sir. Reply By Ganeshan Kalyani: The Reply: I am also of the same view as expressed by learned experts. Thanks.<b....
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