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CA Jitendra Daraji (Querist)

14 March 2013 Dear sir,
I am a supplier and service provider of electrical items. I have gave a proforma invoice to my customer on 04-03-2013 for Rs. 17,24,000 for CCTV camera along with installation services on which the customer paid me Rs. 10,00,000 as advance on 10-03-2013. I will start my work on or after April, 2013, so can i book Rs. 10,00,000 as my sale for A.Y. 2013-14.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

14 March 2013 You are saying you given proforma invoice i.e you issue it like a quotation not issued original invoice(actual invoice) so you need not to book it as income for A.Y 2013-14 and the Rs.10,00,000 will be recognaise as advance for the service to be provide. But according to the POT rules you have to pay service tax on Rs.10,00,000 for the Month of March 2013.

OM SAI SRI SAI JAI JAI SAI

CA Jitendra Daraji

CA Jitendra Daraji (Querist)

14 March 2013 but if the customer deduct the TDS on the said Rs. 10,00,000 than when the credit of the same will avail by me.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

14 March 2013 That means your customer treating it as expense to them for A.Y 2013-14 and they deducted TDS so now you haven't another option you should also reconaise such income for A.y 2013-14 because of TDS and to claim TDS.

OM SAI SRI SAI JAI JAI SAI

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