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Service tax Payment on Receipt Basis (Service Tax)

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This query is : Resolved

Author : Anonymous

( Author )
01 February 2011

My accountant has advised me that Service tax is deposited on receipt basis not on bill basis.

I have a following query.

For example the service tax for a period is Rs. 1ac.

service Tax receipt for the same period is Rs.80K and tax is deposited in time.

Balance service tax amount Rs. 20K is realized in 1-2 months.

Please advise, What is the time frame to deposit the balance service tax amount.

Regards.


C.A.Javid Patel

( Expert )
01 February 2011

1. Your Accontant is right.

2. about rs. 20k whenever it realised then you pay.

3. The due date of 5th of next month.


CA. Praveen Narayan

( Expert )
01 February 2011

Ya.. Evenif service tax liabilty arises on services provided or to be provided, service tax is to be remitted by 5th/ 6th following month of receipt.. Your accountant and Javid sir r right.


Author : Anonymous

( Author )
02 February 2011

Thanks very much for your guidance.

Regards


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