In India service tax is payable only when the value of service provided in a financial year is more than Rs
In India service tax is payable only when the value of service provided in a financial year is more than Rs ___?
[A]5 lakh
[B]10 lakh
[C]15 lakh
[D]20 lakh
10 lakh
Service tax is a tax levied by the government on service providers on certain transactions but is actually borne by the customers. It is categorised as indirect tax and came into existence under the finance act, 1994. This tax is payable only when the value of service provided in a financial year is more than Rs 10 lakh. Service tax is not applicable in the state of Jammu & Kashmir.
Originally written on
May 26, 2015
and last modified on
May 26, 2015.