Accural basis or payment basis

This query is : Resolved

Nitin G Haldikar (Querist)
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06 August 2011 Sir,

I am provideing maintaning serivces bill is also given but i have not received the payment of that services then i have to pay the serivces or wait for payment.

Nitin Haldikar

sachin alwadhi

sachin alwadhi (Expert)
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06 August 2011 NO U HAVE TO PAY SERVICE TAX. FROM 01-04-2011.THERE IS AMENMENTS IN SERVICE TAX RULES THAT SERVICE TAX LIABILITY ON ACCURAL BASIS NOT ON RECEIPT BASIS

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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06 August 2011 Notification No. 18/2011 – Service Tax provided from 1.4.2011 onwards point of taxation will be accrual basis.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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06 August 2011 Transition period benefit given upto 30/06/2011. From 1/7/2011, ST has to be paid on due basis.

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