Reg. service tax payable liability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 October 2010
My client is following accrual basis of accounting so have to account for fees receivble in my clients books.
The service for which fees are receivable comes under the ambit of service tax act.
So at the time of passing entry for fees receivable IS IT REQUIRED TO PASS THE ENTRY FOR SERVICE TAX PAAYBLE?
Plz. note that actual fees is not yet received. It will be received in future.
As per my knowledge service tax liability arises on receipt basis.
Plz help me to solve this case.
Thanks
The service for which fees are receivable comes under the ambit of service tax act.
So at the time of passing entry for fees receivable IS IT REQUIRED TO PASS THE ENTRY FOR SERVICE TAX PAAYBLE?
Plz. note that actual fees is not yet received. It will be received in future.
As per my knowledge service tax liability arises on receipt basis.
Plz help me to solve this case.
Thanks
04 October 2010
The client needs to pay service tax only on receipt of money for the services provided. No harm in following mercantile system of accounting.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- LTCG for Assmt year 26-27
- Soyabean hsn code and gst rate
- TDS related Query_Liquidated Damages
- NON- SUBMISSION OF LLP FORM 3
- Free lancer income
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
