Service tax return
This query is : Resolved
17 October 2012
In service tax return there is one point
1)C) money equivalent of consideration is received in form other than money
what is the meaning of this point pls clarify with example
1)C) money equivalent of consideration is received in form other than money
what is the meaning of this point pls clarify with example
17 October 2012
Let us suppose that you rendered a service to a person. You raise an invoice for Rs. 15,000.
The person does not pay the amount in cash but gives you his Nokia mobile worth Rs. 15,000.
The consideration for service has been received in a form other than money.
The money equivalent of this consideration shall be Rs. 15,000.
The person does not pay the amount in cash but gives you his Nokia mobile worth Rs. 15,000.
The consideration for service has been received in a form other than money.
The money equivalent of this consideration shall be Rs. 15,000.
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