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Discussion > Service Tax > Queries >

Service tax levy on accrual or payment basis

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Accountant Assistant

[ Scorecard : 159]
Posted On 20 August 2011 at 01:03 Report Abuse

Dear Sirs,

                  Kindly let me know as to whether Service tax mus be charged on "Accrual basis" or "Payment basis". It,s urgent.     Also provide the link to any of the notifications in this regard.

                  Thank you


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prateek
ACA

[ Scorecard : 52]
Posted On 20 August 2011 at 07:05

PAYMENT BASIS





Monica
student - CA Final

[ Scorecard : 83]
Posted On 20 August 2011 at 08:15

Hi Ashok,

Service tax shall be charged on accrual basis w.e.f 01.07.2011. Refer to the notification no.18/2011 dated 01.03.2011 and then notification no. 41/2011 dated 27.06.2011

 

http://www.servicetax.gov.in/notifications/notfns-2k11/st-tru2k11/st18-2k11.pdf


 

http://www.servicetax.gov.in/notifications/notfns-2k11/st-tru2k11/st41-2k11.htm



Total thanks : 3 times



pavan
CA Final

[ Scorecard : 143]
Posted On 20 August 2011 at 09:59

for november, 2011 exam purposes it is on Payment Basis.



Total thanks : 1 times



CA Saiyum khan
Practicing CA

[ Scorecard : 675]
Posted On 21 August 2011 at 14:37

SErvice tax is applicable on accrual basis effective from 01-07-2011, Howver there are certain category of service on which service tax is payable on receipt basis. These service are ; Practicing CA, CS & ICWA, Architect Engineer, Advocate etc.



Total thanks : 1 times



Rushi
Practice

[ Scorecard : 153]
Posted On 21 August 2011 at 14:38

monica has rightly answered the query



Total thanks : 1 times


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