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.
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
Total likes : 3 times
for november, 2011 exam purposes it is on Payment Basis.
Total likes : 1 times
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.
monica has rightly answered the query
Your are not logged in . Please login to post replies
Click here to Login / Register
view more »
Our Network Sites
Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.
Alternatively, you can log in using: