Invoice raised by assessee
This query is : Resolved
07 May 2009
Dear All,
"Every assessee should raise an invoice/bill within 14 days of rendering service, indicating the value of service and service tax payable. "
If the invoice is not raised within 14 days, but at a later date, what will be rate at which service tax is to be charged.
For example:
Service was rendered on 25th January 2009.
Invoice was raised only on 2nd March 2009.
What is the S.Tax rate that is to be charged - 12.36% or 10.3%?
Kindly reply at your earliest.
With regards,
Saranjha.
"Every assessee should raise an invoice/bill within 14 days of rendering service, indicating the value of service and service tax payable. "
If the invoice is not raised within 14 days, but at a later date, what will be rate at which service tax is to be charged.
For example:
Service was rendered on 25th January 2009.
Invoice was raised only on 2nd March 2009.
What is the S.Tax rate that is to be charged - 12.36% or 10.3%?
Kindly reply at your earliest.
With regards,
Saranjha.
07 May 2009
You may be charged with penalty under Section 77
07 May 2009
So, does that mean that service tax should be charged within 14 days and at 12.36%?
07 May 2009
Service tax is to be levied at the rate prevailing on the date of rendering/completion of service. Date of issuing the bill and the penalty provisions are a different issue and has nothing to do with the tax rate.
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