Retention of service tax retained
This query is : Resolved
23 March 2013
Dear Sir,
Shall be grateful, if you please confirm the following query:
As Service tax collected during the month of March is deposited upto 31-march, with the implementation of RCM how to deposit 75% service tax on security & manpower service, when the party will submit their after 31-March only?
Kindly advise for timely deposition of service tax ?
Regards
Shall be grateful, if you please confirm the following query:
As Service tax collected during the month of March is deposited upto 31-march, with the implementation of RCM how to deposit 75% service tax on security & manpower service, when the party will submit their after 31-March only?
Kindly advise for timely deposition of service tax ?
Regards
23 March 2013
Dear Atul,
Pls refer to Rule 7 of Point of Taxation Rule as per the said rule the POT in case of Service receiver undre Reverse Charge Mechanism arises from the date of payment of value of service, if made within 6 months from the date of Invoice.
So, if you have made the payment and the invoice is also issued then you need to pay the tax due on yourpart by 31st March another wise the time you will pay him for his services the Service tax liability shall arise.
Thanks & regds
CA JAYANT BOTHRA
M: 91 9873-626-020
Pls refer to Rule 7 of Point of Taxation Rule as per the said rule the POT in case of Service receiver undre Reverse Charge Mechanism arises from the date of payment of value of service, if made within 6 months from the date of Invoice.
So, if you have made the payment and the invoice is also issued then you need to pay the tax due on yourpart by 31st March another wise the time you will pay him for his services the Service tax liability shall arise.
Thanks & regds
CA JAYANT BOTHRA
M: 91 9873-626-020
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