Service Tax Applicability if not collected below Rs. 10 Lakhs

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  1. Satish Mandalia

    Satish Mandalia New Member

    Hi,

    As it says u need to pay ST only when the gross income exceeds 10L in a year. Currently i dont think if will exceed 10 L, so ill not charge it. But what if during the year it exceeds 10 Lac, then what happens to the billing i have already done without ST? Do i need to pay ST on that as well even though i had not charged to customers? Or i need to charge on bills after i crossed 10 Lac?

    Pl guide
     
  2. Yatin Gandhi

    Yatin Gandhi Active Member

    Service Tax in this case would be payable only after it crosses Rs. 10 Lakhs turnover as this is the first year in which service tax is applicable
     
    Satish Mandalia likes this.
  3. Satish Mandalia

    Satish Mandalia New Member

    Cool, Thanks Yatin
     
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