Service tax changes on advance amt paid
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 September 2014
Dear All,
As per the Budget 2014 ,Renting of Immovable Property to schools is not chargble under Service Tax however, due to change in law its ST is applicable from 11 July'14 onwards...
What is the implication of change on the advance pym made on May'14 ( 50 % Advance) for services to be received in Nov'14??
Can Service Provider should change his final invoice with ST on full amt??
Regards
As per the Budget 2014 ,Renting of Immovable Property to schools is not chargble under Service Tax however, due to change in law its ST is applicable from 11 July'14 onwards...
What is the implication of change on the advance pym made on May'14 ( 50 % Advance) for services to be received in Nov'14??
Can Service Provider should change his final invoice with ST on full amt??
Regards
MOHAMMAD SALIM
(Expert)
01 October 2014
In cases where the earlier exempted service becomes taxable the taxability would be determined on basis of POT of said transaction as per Rule 4 of the POT rules, 2012.
Pl. apply and solve...
In event only advance recd prior but invoice and completion of service takes place after abolition of exemption the same would be taxable....
Pl. apply and solve...
In event only advance recd prior but invoice and completion of service takes place after abolition of exemption the same would be taxable....
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