Applicable of service tax on construction business
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 January 2017
Sir we have sold office to Mr XYZ on 15.1.17 for Rs 60,00,000/-. So far we have received Rs 50 lacs as advance from the party in 31.12.16. We have collected Service on Advance Rs 50 lacs @ 4.5% ie Rs 2,25,000 + Rs 45,000/- ( On Bal Rs 10 lacs) . We have paid Service tax on 5.1.17 Rs 2,25,000/-. My query is whether the Service on bal Rs 10 lacs @ 4.5% ie Rs 45,000/- to be paid before 5.1.17 or 5.2.17 ( because we have received full payment of Service tax but Bal amt Rs 10 lacs not yet received.Please advise.
Payment receipts for Service tax collected issued to party But D/note for 2,25,000/0 issued to party in Dec,16
Payment receipts for Service tax collected issued to party But D/note for 2,25,000/0 issued to party in Dec,16
CA Suresh Jain
(Expert)
18 January 2017
Have you shown Rs. 2,70,000/- as Service Tax in the Invoice or receipt issued to the Buyer ?
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