Payment of service tax on receipt basis is allowed??
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 October 2013
Dear Experts,
There is one partnership firm ,having business of painting and polishing and interior related work.( works contract)
total turnover of business is less than 50 lacs,
Firm normally received payments after 3-5 months from date of sales invoice raised.
Is it possible to pay service tax on receipt basis??
and which one is the most appropriate category of service under which firm can register its painting and polishing work?? ( labour charges)
There is one partnership firm ,having business of painting and polishing and interior related work.( works contract)
total turnover of business is less than 50 lacs,
Firm normally received payments after 3-5 months from date of sales invoice raised.
Is it possible to pay service tax on receipt basis??
and which one is the most appropriate category of service under which firm can register its painting and polishing work?? ( labour charges)
12 October 2013
In this case service tax has to be paid on mercantile basis.
For labour charges' registration can be taken under'manpower recritment /supply agency services'.
For labour charges' registration can be taken under'manpower recritment /supply agency services'.
Ganeshbabu K
(Expert)
13 October 2013
Dear Sir can we follow cash basis if it is incase of individual chartered accountant whose gross receipts more than 40 lakhs
Message likes :
1 times
13 October 2013
Yes subject to the restriction as in notification 25/2011 dated 31/03/2011.
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