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GST For Professionals

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Sameer (Querist)
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13 June 2017 As we all are aware that in Service Tax Regime we Chartered Accountants were specifically given option for opting Accrual / Cash Basis for Accounting. So in case a Practicing CA has opted for Cash Basis of Accounting and has Outstanding Dues when the amount is recovered what to do? Will he be required to issue separate bill of GST and get the increased tax amount recovered and then pay or he can directly pay the billed 15% of service tax. As the billing is done but as he opted for Cash Basis the payment to govt is due, which would be done on Receipt Basis.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 June 2017 As service tax is subsumed on the date of receipt he will be required to issue separate bill of GST and get the increased tax amount recovered and then pay.

Sameer

Sameer (Querist)
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13 June 2017 Thank You Sir for the Reply

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