Dear Professional Friend,
Our observation on query is as follows:-
Notification 6/2005 says if the aggregate value of the taxable
service is less than "Eight lacs" in the preceding financial year
then the assessee can take the exemption of Rupees "Eight lacs" in
the current financial year.
So, in your client case we assume that his taxable value in the
previous year was nil and he can take exemption of up to
Rupees "Eight lacs" and on the balance amount (i.e. Rupees 0.5 lacs)
he is liable to pay service tax.
CA. PRADEEP JAIN
--- In ICAI_CIRC_MEERUT_
<madhukarhiregange@
>
> Ideally 2 bills ro be raised. But legally nothing worng in one bill
where 8 lakhs exemption under not.6/05 claimed and on balance ST
charged. This used to happen quite regularly in case of central
excise exemption.
> REgards
>
> Anurag Lal <ca.anuraglal@
> If it is a single bill then on full amount
>
> On 1/20/08, rahulblyca <rahulblyca@
Sir
>
> One of my client has started consultancy services which are covered
> under Service Tax. He has signed a single contract for F.Y. 2007-08
> for Rs. 8.5 Lacs. Should he charged service tax on Rs. 0.5 Lac or
> whole contract amount i.e. Rs. 8.5 Lac. In previous year he had no
> business in India.
>
> Pls. advice.
>
> Thanks
>
> Rahul Agarwal
>
>
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>
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>
> Warm Regards
>
> Madhukar N Hiregange
>
> ------------
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