Service tax payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 June 2012
For AY 13-14 Service tax is paid on recipt basis or bill basis
Ram Avtar Singh
(Expert)
04 June 2012
service Tax to be paid on Billing Basis
Ram Avtar Singh
(Expert)
04 June 2012
Vide notification no.18/2011, these rules were made applicable from April 1, 2011, but these rules were amended vide notification no.25/2011 where in the tax payer was given an option to pay service tax on receipt basis till June 30, 2011 or pay service tax on billing basis from April 1, 2011. The option to pay service tax on receipt basis is only till June 30, 2011 hence all the assesses, except professionals, will have to pay service tax on billing basis from July 1, 2011.
Rule 3 has been amended to provide that the point of taxation shall be as follows:
(a) Date of invoice or payment, whichever is earlier, if the invoice is issued within the prescribed period of 14 days from the date of completion of the provision of service.
(b) Date of completion of the provision of service or payment, if the invoice is not issued within the prescribed period as above.
Vide notification no.18/2011, these rules were made applicable from April 1, 2011, but these rules were amended vide notification no.25/2011 where in the tax payer was given an option to pay service tax on receipt basis till June 30, 2011 or pay service tax on billing basis from April 1, 2011. The option to pay service tax on receipt basis is only till June 30, 2011 hence all the assesses, except professionals, will have to pay service tax on billing basis from July 1, 2011.
Rule 3 has been amended to provide that the point of taxation shall be as follows:
(a) Date of invoice or payment, whichever is earlier, if the invoice is issued within the prescribed period of 14 days from the date of completion of the provision of service.
(b) Date of completion of the provision of service or payment, if the invoice is not issued within the prescribed period as above.
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