Service tax on gta
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 May 2012
In case of GTA if we receive the service bill of march 12 from Service Provider in the m/o April and we have to book the bill in march 12 only due to march closing . kindly advice at what rate we discharge the liability of service tax as now we have to deposit the st to Gov on 5 may 12 only.
08 May 2012
In case of reverse charge mechanism, services shall be deemed to have been provided on the date when payment is made by the service receiver. Accordingly rate of service tax shall be taken of the date of making the payment. Thus in your case rate of service tax shall be 12%.
Moreover, on balance sheet date i.e. 31.03.2012, you have to make provision by taking rate of service tax @ 12%. Because as per AS 4, in respect of event occurring after bS date and condition of which exist on BS date and further evidence is received between BS date and before the financial statement is approved then for accounting on BS date further evidence should be considered.
Moreover, on balance sheet date i.e. 31.03.2012, you have to make provision by taking rate of service tax @ 12%. Because as per AS 4, in respect of event occurring after bS date and condition of which exist on BS date and further evidence is received between BS date and before the financial statement is approved then for accounting on BS date further evidence should be considered.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Reporting Income under Section 44ADA
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR 1: Details for showing Exempt Income
- ITR 2 Short Term gain & Long term gain
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
