08 June 2016
A service provider partnership firm ( say Z) ( provided recruitment service for total amounts below Rs. 50 Lacs in FY 2015-16 ) raised invoices from June 2015 onwards with out charging service tax on such invoices and received all payments before March 31, 2016. Z maintains its books on Cash basis. Z realised now (in june 2016) about its liability of service tax . Z intends to deposit the service tax now and wants to recover this from its clients through supplementary invoice or other suggested instrument in a legitimate way as most of its clients have filed their service tax returns and are not open to revise such returns . Its clients are ready to pay provided the input credit is availble to them as per law. Please suggest step wise solution quoting relevant rule(s) / notification etc..
CAclubindia
