Advance money received
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 November 2011
Dear Sir,
Advance money received (for eg: 100000)for a taxable service not yet rendered or to be rendered in subsequent months is liable to service tax. my question is whether service tax payable is to be calculated on 100000 or it is to be assumed that this amt already contains service tax component and as such the same is to deducted and service tax is to be payable on 90662/-
Advance money received (for eg: 100000)for a taxable service not yet rendered or to be rendered in subsequent months is liable to service tax. my question is whether service tax payable is to be calculated on 100000 or it is to be assumed that this amt already contains service tax component and as such the same is to deducted and service tax is to be payable on 90662/-
08 November 2011
reverse mechanism would apply and deemed that 1lacs is inclusive of ST, hence st payable on 90662
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