Advance payement received
This query is : Resolved
Pramila S. Karbele
(Querist)
05 July 2013
Our Company is into builders & developers. We receives advance payment from our customers. How i should calculate service tax on this advance received - inclusive or exclusive?
please guide on urgent basis.
Our Company is into builders & developers. We receives advance payment from our customers. How i should calculate service tax on this advance received - inclusive or exclusive?
please guide on urgent basis.
MOHAMMAD SALIM
(Expert)
08 July 2013
As Service Tax is applicable on advance payment also.. It is better you treat it as inclusive of service tax....and gross up the amount to arrive at the Service Tax....
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