GK
TAXES IN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If the aggregate value of taxable service in the preceding financial year exceeds Rs. 10,00,000, service tax shall be payable during the current financial year
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On the entire aggregate value of service.
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If the aggregate value of taxable service exceed, Rs. 10,00,000 during the current year.
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If the aggregated value of taxable service exceeds Rs. 10,00,000 during the current financial year.
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None of these
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Explanation:
Detailed explanation-1: -Although Service Tax is required to be paid only when the aggregate value of services provided exceeds Rs. 10 Lakhs in a financial year, the service tax provider is required to apply for Registration for Service Tax within 30 days of his turnover exceeding Rs. 9 Lakhs.
Detailed explanation-2: -(viii) the aggregate value of taxable services rendered by a provider of taxable service from one or more premises, does not exceed ten lakh rupees in the preceding financial year.
Detailed explanation-3: -But if in 2016-17, the aggregate value of service exceeds ₹ 10 lakh, then you will have to pay service tax.”
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