Service tax payment

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Querist : Anonymous

Querist : Anonymous (Querist)

08 April 2015 Dear all
i am SP.can i pay ST on the receipt basis or not..

CA John Abraham Austin ACA

CA John Abraham Austin ACA (Expert)
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08 April 2015 As per the Point of Taxation Rules, 2012, if your taxable receipts in the previous Financial Year exceeds Rs. 50 Lacs, then you SHOULD go by due or receipt basis. If not,you have an option to go by receipt basis.

Querist : Anonymous

Querist : Anonymous (Querist)

09 April 2015 Dear sir
in previous FY my receipt was more then 50 lacs, but i have doubt making ST payment on the receipt basis.
suppose. i have raised the bill on 25/6/2015, and due date for ST payment is 5/7/2015, but if the debtors has paid me this ST amount on 10/7/2015. when i will be liable to pay this ST amount whether on 10/7/2015 or 5/10/2015,
also tell me if i pay ST on the receipt basis. no need to pay ST included interest na....

CA John Abraham Austin ACA

CA John Abraham Austin ACA (Expert)
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09 April 2015 Hmmm. Sorry to say that you will have to pay the SvT on bill basis in this case.
This is a procedural difficulty made by the Point of Taxation Rules, 2012.

Querist : Anonymous

Querist : Anonymous (Querist)

10 April 2015 Dear sir
if i pay ST on bill basis the problem is i am contractor of repairing electricity goods.
suppose i have raised the to the company of RS. 100000+12360 ST total 112360/- and if i have deposited this 12360 ST before receiving the payment from debtors. but the debtors will never gives me full 112360/- this is the restriction in my profession. that's why i prefer the ST payment on the receipt basis. please tell me what is the difficulty to pay ST on receipt basis. please tell it in details...

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