Service Tax on Foreign Services
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 December 2009
We are receiving foreign services like Management Services from Singapore/IT Services from our holding companies outside India, Invoices are reised on monthly basis by them and we record the invocies on monthly basis in our books. We also accrue for the service @ 10.3% on monthly basis. We would like know as when does the liability to deposit the service tax arrise in this case. When we actually make the payment to foreign entity or when we give the credit to them in our books.
Madhukar N Hiregange
(Expert)
09 December 2009
As on date on the date of credit.
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