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Very less membership and consultancy fee are we liable for service tax
24-Aug-2023 (In Tax Law)
Dear Sir, I have a consultancy firm. We provide service to our members only. Our membership fee is 200/- and consultancy fee 51 to 1100. Our membership fee will be in service tax area or exclude the area. So please tell me detail about it. What is my limit for service tax and which percent for my service?
Payment of Service Tax is required once your yearly turnover is Rs 10 lakhs or more.
Conclusion:
If your yearly turnover is above Rs 10lakhs, Service Tax is payable at full rate (i.e. 15% including SWC and KKC) since no abatement is available on consultancy services.
Conclusion:
If your yearly turnover is above Rs 10lakhs, Service Tax is payable at full rate (i.e. 15% including SWC and KKC) since no abatement is available on consultancy services.
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Adv. Anuj Bhasin
Delhi | 25+ Answers
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