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  • Do i need service tax for my new firm.

    Initially a company/ firm doesnt need to take service tax registration until the turnover the company reaches 10 lakhs. After 12 lakhs turnover, you can start collecting service tax from the clients. Once you cross this turnover, you need to continue collecting this amount even the turnover drops down later.

    Current rate for service tax is 12.36% per invoice.

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