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?

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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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

CA Ashok Kumar Sahu (Expert)
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12 April 2010 agreed

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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12 April 2010 AGREED

CMA Arif Farooqui

CMA Arif Farooqui (Expert)
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13 April 2010 agreed

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