service tax

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Tara (Querist)
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20 April 2009 if a service provider issue bills of Rs 10 lacs in a year but received payment of Rs 9 lacs only during the year . Only last bill is issued with service tax.

1.whether it is liable for service tax in case payment of last bill received/ not received.
2. when it is presumed to cross the limit of 10 lacs - on bill raised basis or on receipt basis.

Dayal

Dayal (Expert)
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22 April 2009 In the current situation no service tax is payable as the gross receipts during the financial year has not accrued.

It is assumed that the preceeding year you did not cross the limit of 10 lacs.

However this amount will be considered int he subsequent year as receipts for that finacial year in which it is received by you.

Ans to question 2 is only after the payment is realised and not when it is billed

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