Amends Notification No.6/2005 (Service Tax) (small service provider) aggregate value defined in terms of invoices issued instead of payments received

Threshold exemptions – Amendment in Notification No. 6/2005-ST, DATED 1-3-2005

Notification No. 06/2005–ST dated 01.03.2005 granting exemption to small service providers has been amended  recognizing that the first clearances up to Rs.10 lakh will be in terms of invoices and not in terms of mere payments  received.

Notification No.5/2012 – ST,

Dated 17-3-2012

In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.6/2005-Service Tax, dated the 1st March, 2005, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide G.S.R. number 140(E), dated the 1st March, 2005, namely:-

In the said notification, in the Explanation, for item (B), the following item shall be substituted, namely:-

‘(B) “aggregate value” means the sum total of value of taxable services charged in the first consecutive invoices issued or required to be issued, as the case may be, 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 section 66 of the said Finance Act under any other notification‘.

2. This notification shall come into force on the 1st day of April, 2012.

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Category : Service Tax (3411)
Type : Notifications (16072) Notifications/Circulars (32585)

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