Service tax on advance amount received from clients
This query is : Resolved
10 April 2008
Please clarify as to when does the service tax liability on advance received from the clients rise? in case, the advance was received in F/y 2006-07 and the bill is raised in the end of F/y 2007-08.i.e, Mar-08. When do we need to pay service tax.
In the similar situation, if the advance is only partially adjusted against the billl raised in Mar-08. What is the service tax liability.
Request you to enlighten me with circular/notifications from the department
Thanks and regards
K.Ganesh
In the similar situation, if the advance is only partially adjusted against the billl raised in Mar-08. What is the service tax liability.
Request you to enlighten me with circular/notifications from the department
Thanks and regards
K.Ganesh
10 April 2008
whenever the amount is received the tax is payable whether advance or otherwise.
11 April 2008
ST is leviable in respect of the advances received as well
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