Service tax on advance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2013
we have not paid service tax on advance received...but paid as when and when the billing is done...in some of the months the advance is received in earlier month and billing is don in next month...in such cases the calculation shows a shortfall in payment (if calculated on advance or billing whichever is earlier basis)..if i pay interest on such shortfall wehther that will a enough comliance?
CA Parul Saxena
(Expert)
06 September 2013
yes this is enough compliance....but you should start paying service tax on advance received if you want to escape from interest amount.
CA Suresh Jain
(Expert)
07 September 2013
for the past pay the interest and now onward you should pay the service tax on advance in time.
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