Service tax applicability on uncertain income
This query is : Resolved
01 December 2014
hi experts
can you help me with the following query?
whether a pvt ltd co liable to charge service tax on advance payment received for the procurement of contract.
provided that such advance received will be returned to the party if the contract not procured i.e. contract is uncertain
can you help me with the following query?
whether a pvt ltd co liable to charge service tax on advance payment received for the procurement of contract.
provided that such advance received will be returned to the party if the contract not procured i.e. contract is uncertain
02 December 2014
Yes.
service tax is applicable on all advances..
In case of advance returned; you can take credit of the same by raising a debit/credit note.
service tax is applicable on all advances..
In case of advance returned; you can take credit of the same by raising a debit/credit note.
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