Service tax complications
This query is : Resolved
25 March 2013
Anyone can advice me under the following conditions:
We are service providers coming under "Business Auxillary Services"
providing services to different business clients in terms of
maintaining accounts and filing of returns.
* We have raised invoice including service tax in the month of March,13 but to be received in the month of April.13.
* With regard to our services we have taken 25% of our fees as advance.
* We raised a bill in the month of Jan'13 but still pending to receive. It is expected that it may become bad debt.
I shall be thankful to u
Regar
We are service providers coming under "Business Auxillary Services"
providing services to different business clients in terms of
maintaining accounts and filing of returns.
* We have raised invoice including service tax in the month of March,13 but to be received in the month of April.13.
* With regard to our services we have taken 25% of our fees as advance.
* We raised a bill in the month of Jan'13 but still pending to receive. It is expected that it may become bad debt.
I shall be thankful to u
Regar
CA Mahavir Shah
(Expert)
26 March 2013
Every assessee can pay Service Tax on receipt basis if his Total receipts does not exceeds Rs.50 Lac.
So you needs to pay on receipt basis if your receipts does not exceeds Rs.50 Lac.
So you needs to pay on receipt basis if your receipts does not exceeds Rs.50 Lac.
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