On which Date rate ST will be charged on Foreign Services
This query is : Resolved
Nand Kishor Sharma
(Querist)
31 March 2009
We provide service to a foreign customer for the amount USD 1,00,000 on 14.05.2008. Further we deduct TDS from his account USD 10000 and deposited into bank.
Now My question is that
(i)ON wchich amount I have to pay service tax.
(II)On which rate date I have to pay service tax?
Now My question is that
(i)ON wchich amount I have to pay service tax.
(II)On which rate date I have to pay service tax?
31 March 2009
Service tax is on the service provided and not as applicable on the date of payment received.
It is consumption based tax, hence payable at the rate when it was provided.
TDS amount is not deductible from taxable amount,
Service tax payable on the gross amount of 100000/- and not 90000/-
It is consumption based tax, hence payable at the rate when it was provided.
TDS amount is not deductible from taxable amount,
Service tax payable on the gross amount of 100000/- and not 90000/-
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