Half payment recieved
This query is : Resolved
Nitin Panthri
(Querist)
29 September 2009
Hi,
if any one raise a bill including service tax say of Rs.11030/- and recieves payment of Rs.5000/- then on how much amount he'll have to pay service tax.
Regards,
Nitin Panthri
npanthri152@gmail.com
if any one raise a bill including service tax say of Rs.11030/- and recieves payment of Rs.5000/- then on how much amount he'll have to pay service tax.
Regards,
Nitin Panthri
npanthri152@gmail.com
CA V. Mohanakrishnan
(Expert)
29 September 2009
The service tax liability arises only on the amount received. Hence the service tax would be the prescribed percentage on 5000.
CA CHINTAN AJMERA
(Expert)
29 September 2009
Service tax Paid on Rs. 5000 only.
Nitin Panthri
(Querist)
01 October 2009
Thanks for the valuable reply...
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