Service tax on advance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 September 2014
We are service provider and take advance payment from resident against service of One year including service tax. We generate monthly basis bill and deposit the service tax accordingly. is this ok or we deposit the service tax in advance to department.
if we charge Rs.5000/- for one year in advance we are liable to pay service tax on it.
if we charge Rs.5000/- for one year in advance we are liable to pay service tax on it.
01 October 2014
As per Point of taxation Rules, 2011 Rule 3 the POT is date of invoice or date of payment (including advance) whichever is earlier. Thus service tax needs to be paid accordingly...
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