Service tax under rcm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 July 2014
service received in april
service tax payment in may 6th
service tax input under RCM in 31st may.
whether above procedure is correct or wrong please reply this question.
service tax payment in may 6th
service tax input under RCM in 31st may.
whether above procedure is correct or wrong please reply this question.
16 July 2014
Let me tell you Point of Taxation under RCM is as below
.
Service tax is payable by service receiver when actual payment is made to service provider and not on receipt of Invoice from service provider. However, if payment is not made to service provider within 6 months, service tax is anyway payable. Interest is also payable.
.
.
Hence see point of taxation is date of payment to service provider or 6 months from invoice date which ever is earlier
.
.
Ex:So received bill in april and made payment to service provider in june and then you can make payment of service tax to dept under RCM with in july6 and can take credit on that day it self
*****Above reply is based on current position
Please see below link to know budget update relating to this
.
https://www.caclubindia.com/experts/treatment-1783224.asp#.U8aemvmSx1Y
.
Service tax is payable by service receiver when actual payment is made to service provider and not on receipt of Invoice from service provider. However, if payment is not made to service provider within 6 months, service tax is anyway payable. Interest is also payable.
.
.
Hence see point of taxation is date of payment to service provider or 6 months from invoice date which ever is earlier
.
.
Ex:So received bill in april and made payment to service provider in june and then you can make payment of service tax to dept under RCM with in july6 and can take credit on that day it self
*****Above reply is based on current position
Please see below link to know budget update relating to this
.
https://www.caclubindia.com/experts/treatment-1783224.asp#.U8aemvmSx1Y
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