Service tax payment

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Querist : Anonymous

Querist : Anonymous (Querist)

13 April 2015 Dear all
for opting the service tax payment on the receipt basis. the receipt in the previous FY should be more then 50 lacs or less then 50 lacs

plz reply..

CA John Abraham Austin ACA

CA John Abraham Austin ACA (Expert)
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13 April 2015 Less than 50 Lacs. according to Point of Taxation Rules, 2012.

Querist : Anonymous

Querist : Anonymous (Querist)

13 April 2015 OK.sir
if i opting ST payment on receipt basis.
suppose i have issue the bill on 30/6/2015. and service tax payment due date is 5/7/2015. but if the debtor has paid this bill amount on 20/7/2015. in this case as per receipt basis when will be ST payment liability whether on 5/7/2015 or on 5/10/2015

please reply...

Rupesh Jain

Rupesh Jain (Expert)
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13 April 2015 now it is on due basis not on the receipts basis.

CA John Abraham Austin ACA

CA John Abraham Austin ACA (Expert)
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13 April 2015 Based on Point of Taxation Rules, 2012, the month of Service Tax payability will be June 2015. And due date would be 5th Jul 2015 since the gross receipts in the previous / this year has crossed 50 Lacs.

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