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August 2012

Exemption to small service providers — Notification No. 33/2012-ST, dated 20-6-2012.

By Tarun Ghia, Brijesh Cholera, Pratik Mehta, Chartered Accountants
Reading Time 1 mins
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By this Notification, earlier Notification No. 6/2005-ST has been rescinded and exemption has been granted in relation to taxable services of aggregate value not exceeding ten lakh rupees in any financial year from the whole of service tax leviable thereon.

Further, the definition of ‘aggregate value’ is amended to mean the sum total of value of taxable services charged in the first consecutive invoices issued during a financial year, but does not include value charged in invoices issued towards such services which are exempt from whole of service tax leviable thereon under any other notification.

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