Point of taxation (invoicing or realization based)
This query is : Resolved
Avinash Bhagat
(Querist)
26 February 2013
Need help on the following scenario:
Type of Service: Man Power Recruitment
Date of Billing: 13.10.12
Date of Realization: Feb 2013 (expected).
My question:
1. ST to be deposited based on billing quarter i.e. Oct- Dec 2012 or realization quarter i.e. Jan- Mar 2013.
2. If it is based on billing quarter then what would be liability towards interest and will there be any penalty (our ST liability based on billing quarter was conveyed to the client thru email in the month of Dec 12).
Type of Service: Man Power Recruitment
Date of Billing: 13.10.12
Date of Realization: Feb 2013 (expected).
My question:
1. ST to be deposited based on billing quarter i.e. Oct- Dec 2012 or realization quarter i.e. Jan- Mar 2013.
2. If it is based on billing quarter then what would be liability towards interest and will there be any penalty (our ST liability based on billing quarter was conveyed to the client thru email in the month of Dec 12).
CA Parul Saxena
(Expert)
26 February 2013
It would be on the basis of billing...
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