S.Tax on Late/Delay payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 December 2010
Is the Service tax laibility arise on the amount received as Late/Delayed Payment of the clients(Specially in case of Stock broker)?
If Yes ,under which category and any circular/notification on it.
If Yes ,under which category and any circular/notification on it.
21 December 2010
Sir, Service tax is payable on cash basis.So you have to pay the tax only on receipt of payment.
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 December 2010
CA Shaileshji please tell me the catogery /circular/notification where it is mentioned that late/delay payment is chargeable to service tax.My query is the above mentioned part and not cash or accural basis.please do reply in this context
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