Service tax Payment on Receipt Basis

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 February 2011 My accountant has advised me that Service tax is deposited on receipt basis not on bill basis.

I have a following query.

For example the service tax for a period is Rs. 1ac.

service Tax receipt for the same period is Rs.80K and tax is deposited in time.

Balance service tax amount Rs. 20K is realized in 1-2 months.

Please advise, What is the time frame to deposit the balance service tax amount.

Regards.

C.A.Javid Patel

C.A.Javid Patel (Expert)
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01 February 2011 1. Your Accontant is right.

2. about rs. 20k whenever it realised then you pay.

3. The due date of 5th of next month.

CA. Praveen Narayan

CA. Praveen Narayan (Expert)
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01 February 2011 Ya.. Evenif service tax liabilty arises on services provided or to be provided, service tax is to be remitted by 5th/ 6th following month of receipt.. Your accountant and Javid sir r right.

Querist : Anonymous

Querist : Anonymous (Querist)

02 February 2011 Thanks very much for your guidance.

Regards

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