I made a bill on 12.2.2009 for a value of 1,00,000/= with 12.36 % service tax and I received 50,000 amount before 24.02.2009 and i remit the tax 12.36 % and I received 50,000 on 01.03.2009 how much i have to pay serive tax on the balance amount.
Question 2.
I received advance amount 1,00,000 on 12.02.2009 for which bill not yet raised. During this quarter ended shall i make service tax @ 10.3 %.
question 3.
I billed Rs. 1,00,000 on 10.03.2009 @ 10.3 % service tax for which I received an advance amount Rs. 50,000/= on 12.12.2008 and paid service tax for the said amount @12.36 % on 4.1.2009. Please clarify how to bill this and what amount i have to pay service tax.
20 March 2009
Dear Vijay, 1. You are liable to pay service tax @12.36% as it is billed by you irrespective of date of receipt. although service tax will be paid after receipt.
2. Servie tax will be leived at the rate which in force on the date of advance (if any), so here also 12.36%.
3. you have to bill @12.36%, as the same has already been collected and paid.
CAclubindia
