Service Tax Recognition
This query is : Resolved
Guest
Guest
(Querist)
12 April 2010
Service tax liability is occer when the amount of service and service tax has been received, I have provieded the taxable service but i haven't received any amount.
Should i have to made the provision of service tax in the books of account on the services i have provided in the accounting year ending or not.
What if amount is not received later?
Should i have to made the provision of service tax in the books of account on the services i have provided in the accounting year ending or not.
What if amount is not received later?
CA. B.SRINIVASULU
(Expert)
12 April 2010
If you are following accrual system of accounting then you have to provide in books the receivable service tax and later if not received then you have to reverse the same when you found that you can not receive then reverse the same.
CA Ashok Kumar Sahu
(Expert)
12 April 2010
agreed
12 April 2010
AGREED
CMA Arif Farooqui
(Expert)
13 April 2010
agreed
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