Payment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2011 Sir,

We have rendered one taxable service and final bill prepared of Rs. 12 lacs + service tax.Rs. 123600/= Total Rs. 1323600/= and the date of said bill is
02.02.11.

Against that we received Rs. 300000/= & Rs. 500000/= as advance in F.Y. 09-10, and balance Rs. 523600/= received in F.Y. 10-11.

Please tell me how we have to pay service tax.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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05 July 2011 The old act was as and when you receive the money or fee or payment then service tax is payable shall apply for all payments up t0 30.6.2011 and thereafter once you have rendered taxable services you have to pay the tax on service tax irrespective of whether you have received it or not before 7th of next month.

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