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

Madhukar N Hiregange (Expert)
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09 December 2009 As on date on the date of credit.

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