Please Help: Clarification on SSI taxability
Posted Date : 16-Apr-2012 , 12:53:39 pm | Posted By Aashish Kumar Jain
Dear Sir,
One of my client has earned a commission income of more than 10Lacs(Rs.13Lacs) in financial year 2011-12.
He is enjoying the status of SSI till last year.
As their commission income exceeds 9Lacs we took the Service tax registration.
Now i am not clear that the liability of service tax is on whole 13Lacs or on a difference 3lacs(13-10) in this year.
Please help me out as soon as possible.
I am waiting for your response
Thanks in Advance
One of my client has earned a commission income of more than 10Lacs(Rs.13Lacs) in financial year 2011-12.
He is enjoying the status of SSI till last year.
As their commission income exceeds 9Lacs we took the Service tax registration.
Now i am not clear that the liability of service tax is on whole 13Lacs or on a difference 3lacs(13-10) in this year.
Please help me out as soon as possible.
I am waiting for your response
Thanks in Advance
Category : Service Tax | Answers : 3 | Comments : 2 | Hits : 289
Answers
Answer By: CA VIPIN GARG
Dear Ashish, the service tax liablity will be only on additional bills of Rs. 3 lacs (13-10).
Hope you got the answer you were looking for, have a nice day Ji..........
Hope you got the answer you were looking for, have a nice day Ji..........
Answer By: Rishabh Upadhyay
Service tax is applicable from the time the amount exceeds Rs 10 lack. So only the excess portion ie. Rs 3 lakh is subject to service tax.
Answer By: Mrattunjay
liability of service tax is on a difference 3lacs(13-10) in this year.
Comments
sourabh mehra
17-Apr-2012 , 10:37:36 amIn financial year 2011-12 , service tax liability will be on rs. 3lakh only, but in the financial year 2012-13 ssi exemption will not be available
sourabh mehra
17-Apr-2012 , 10:37:55 amIn financial year 2011-12 , service tax liability will be on rs. 3lakh only, but in the financial year 2012-13 ssi exemption will not be available