Service Tax due on billing basis.
This query is : Resolved
06 July 2011
Dear Sir,
I came to know that service tax is now payable on billing basis wef 01.07.2011.
Further came to know that Engineering Consultants are exemted from this purview i,e they will deposit the service tax on receipt basis. Is it true ? If yes. Could u pls give me reference of Govt notification/order.
RAAJIV GARG
I came to know that service tax is now payable on billing basis wef 01.07.2011.
Further came to know that Engineering Consultants are exemted from this purview i,e they will deposit the service tax on receipt basis. Is it true ? If yes. Could u pls give me reference of Govt notification/order.
RAAJIV GARG
06 July 2011
No. Engineering consultants has to pay ST on billing basis and not on cash basis.
Message likes :
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06 July 2011
Thanks a lot,Sir.
RAAJIV
RAAJIV
Guest
Guest
(Expert)
06 July 2011
Point of Taxation Rules, 2011 provides that consultancy service provided by the individuals or proprietary firms or partnership firms can opt to pay service tax on cash basis instead of acrual basis. However, consulting engineer [65(105)(g)] is not covered therein.
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