26 August 2009
I want to ask a query that if in case a party wants to give only a part of billing say 70% and dont want to pay remaining amount then what will be accounting treatment of remaining provision of service tax.
26 August 2009
In such case u will revise such bill or sent Debit note to that party at the time of this adjustment u should adjust proportionate service tax of the bill.
26 August 2009
service tax liability is on receipt basis so no need of creating provision for the uncollected amount. u have to adjust the difference through debit note or in any other suitable way.
CAclubindia
