Invoicing for Advances??

This query is : Resolved

RAMAKRISHNAN MB (Querist)
Follow

14 February 2011 It is understood that service tax is payable on actual receipt basis. With change in definitions of taxable value as "amount received for service rendered or to be rendered" advance receipts have also become taxable.

In such cases (for advances) whether invoice is required?

If invoice not required, how the CENVAT Credit will be availed?

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
Follow

16 February 2011 Credit would be available on invoice only and for advacnes maybe a proforma invoice can be raised containing all the requriements of an invoice accept that the same would not be accounted.

RAMAKRISHNAN MB

RAMAKRISHNAN MB (Querist)
Follow

16 February 2011 Sir,
so there will be delay in actual remittance of service tax by the service provider and Credit availment by the service receiver

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
Follow

01 August 2024 https://docs.google.com/document/d/1JvwlgHejxa6x-ozxOQipCVew-ejxPS2zA0hvrFz_AG0/edit?usp=sharing

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Anoop KK

Ravi

HITESH NIRANJAN SAHU

kambamcr@gmail.com

siddhesh satardekar

Subscribe Now

Invoicing for Advances??

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Article Assistant

Accountant

GST CONSULTANT

GST CONSULTANCY