Service Tax was payable based on Payment basis in the F.Y 2010-11. and as per Amendment, Service Tax is now payable based on billing. My query is that, even though it is to b paid based on billing from 01.04.2011 what about the liability of Service Tax to b paid on receipts against billing of Previous year. I mean when is the Service Tax realised on realisations of previous year's billing liable to b paid??

Please respond at the earliest??

is it true that as per point of taxation rules,2011 w.e.f. 1/4/11 service tax is to be paid on billing basis whereas earlier it was on the basis of receipt of payment of taxable service

If we are paying service tax in telephone bill or other,can a company or individual get service tax set off against the same?

I have got regn for Centralised Accounting & Billing for my offices @ Bangalore & Mumbai.
I am dealing in Software & Service supports. I stock transfer to Mumbai branch. We bill it from Bangalore to endusers, charging MVAT & Srv Tax.
Since it is sold out of Stock Transfer I charge MVAT.
Which Address the bill should have on Top, whether it should be Blr or Mumbai address.

If I mention the Mumbai address and raise Service tax bill, is it wrong as per Centralised regn rules.

The Books of accounts for both Blr & Mumbai maintained seperately @ Bangalore.

Pl clarify, suggest and provide me opinion & solutions.

Rgds / Ramakrishnan

Hi All

One of my clients did not file thier return ST-3 , for 2010-11 Fy .
Its a P ltd.
For every month they had 1500 or 2000 laibility But in Mar -11 they have input credit 100000/- ,
If we take whole year they have exess input of ser tax,
Now i am filing their late return.
can i adjust the liability with exess credit or i have to pay all the laib raised .and carry forward the input

Abdul

Dear Sir / Madam
Please do let me know the Interest & Penalty to be paid to the Govt. for delay in payment of Service Tax.
Audit query Case1:During Internal Audit of Real Estate industry of Sales Department.It was Observed that Service tax of Rs. 1.61 crore was charged & collected from the customer for sale of Commercial units on June 2011, project completed on 26th Aug, 2010 inspite of being not applicable in case of completed projects.It was also observed that the same was not deposited with the govt. till date i.e. Jan 12, 2012.What is the Interest & Penalty for not depositing the same.Please quote the relevant provision & section no also
I had discussion with the account dept. for not depositing the service tax amount collected. They said that there was insufficient funds so will be paid afterwards with interest to the govt.
I would like to know what are the major risk in the above case as they are using the service tax amt as funds & not depositing the same timely?can the statutory auditor qualify the report on such circumstances? Is this common thing which other companies also do?Please suggest.
thanks in advance...

If we have to make a payment to foreign party for receiving professional services, then the reverse charge applies, it means we have to pay service tax to govt.,
Eg:
payment due:100
service charge:10.3
TDS: 20%(110.3)=22.06
Net Amount to be paid to the party is Rs. 77.94 or Rs. 88.24 ?

Hi iam working with one private limited company, just i want to know for service tax late payment either interest applicable or penalty applicable.

example:Service tax payment pending from April 2011 to till date. in this case how i calculate interest, penalty and late filing fees ect

Regards
ICSI Student ( Executive Program)
S purushotham

Respected Seniors & Dear friends,

I wanted to know that whether the increased penalty of 20000/- on late filing of service tax returns will be applicable for the period of 01.10.2010 to 31.03.2011, as the rule came in effect as on 1st April 2011.

I have a return due for 2010-11 2nd half (Sep-Mar), Return is Nil,
what will be the amount of penalty if deposit it as on 12.01.2012.
Kindly reply..

Thanks & Regards:
Rajneesh Singh
C/o. Rajput Jain & Associates
(Chartered Accountants)
+919868668915
+918285062011
011-43520194

Respected Seniors & Dear friends,

I wanted to know that whether the increased penalty of 20000/- on late filing of service tax returns will be applicable for the period of 01.10.2010 to 31.03.2011, as the rule came in effect as on 1st April 2011.

I have a return due for 2010-11 2nd half (Sep-Mar), Return is Nil,
what will be the amount of penalty if deposit it as on 12.01.2012.
Kindly reply..

Thanks & Regards:
Rajneesh Singh
C/o. Rajput Jain & Associates
(Chartered Accountants)
+919868668915
+918285062011
011-43520194