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.

Advertisement

This question "In India service tax is payable only when the value of service provided in a financial year is more than Rs" was published on GKToday on May 26, 2015 at 11:02 am. For Current Affairs Questions Archive Click Here. For General Knowledge Questions Archive Click Here.

Comments