CA-ASPIRANT
08 May 2009 at 16:06

Accounting of service tax

As we know service tax is paid only when consideration for service is received. if no consideration is received no service tax liability arises.

At the time of billing we credit service tax account and provide service tax liability in the books of account whereas there is no service tax liability arises at the time of billing.

Please suggest proper accouting treatment of service tax so that liability can be created in the books of account only when it actually arises.


Girish
08 May 2009 at 15:58

Excemption

Sir,
Pls correct me if I am wrong,
1.Service tax is excempted upto 10 lakhs of taxable services but can't avail CENVAT credit.
2.Any time during the year if taxble services exceeds ten lakhs, service tax is applicable on the balance exceeding 10 lakhs.

Thanks & Regards,
Girish


Prakash
08 May 2009 at 15:57

GTA******

Transporter have not charged Service tax in Bill for exemption and issued consignment note then our liability to pay service tax on this. Can we take Cenvat on Service tax paid for carriage Inwards in same month when we deposit to Bank?

If transporter has not issued consignment note and they have no service tax reg. no.then also will we have to pay service tax for this?


mamta
08 May 2009 at 15:43

s 370 1B

370 1B (v) if one or more directors of the one body corporate while holding, whether by themselves or together with their relatives, the majority of shares in that body corporate also hold, whether by themselves or together with their relatives, the majority of shares in the other body corporate

if the directors holding shares in a co and tht company is a share holder in a body corproate it will b applicable or not?

Pl comment. Its urgent


TARUN JAIN
08 May 2009 at 15:24

TDS

Dear sir

can we pay the tds by using old form no 281 available on the CBDT site for the assessment year 2009-2010 as the new form is not yet avaible. Pls suggest.

regards

Tarun Jain


ankit
08 May 2009 at 15:24

question on provision

sir i wanna ask about provision for exp on 31 mar


Abhishek

We are into a hotel industry. We have to pay charges for advertisement on foreign website. Now since the website is run in country other than India, Will it be termed as Services Used in India based on the fact that payment is to be made by establishment in India ??

If it will be covered under Import of Services under which provision it will be taxable ??

Also, the advertisement period is before 24th Feb 09, which rate of tax will be appliable in this case ??



Abhishek

If we have paid any service tax on behalf of non-resident as Import of Service, Can we take the Input Credit of the same ??
Also, can we adjust such credit against other can be adjusted against payment of other services ??

What entries to be made into books. Please explain with example...


Harsh Parikh
08 May 2009 at 14:57

E-filing of Income Tax Return

-What are the consequences if I.Tax Department is not ready to accept the Copy of E-filing Acknowledgement after expiry of 15 days of time even after giving in writing the valid reason for delay by the assessee ? Whether the Return will be considered as invalid?
-What happens in the case Department has already accepted E-filing Acknowledgement after 15 days. Still it would be considered as invalid at the time of assessement?


Amit Goyal

Which form should be used for claiming refund of service tax paid on specified services by the exporter of goods. (Notification no. 41/2007 dtd 06/10/2007).






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