Services tax on builders
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 August 2011
One of my client have not charged or paid the services tax on amount received on sale of flats, as it has not registered for service tax and came to know about compulsory provision now.
So what can be done now should it show that service tax is liable to paid in balance sheet which has not been charged and paid
Pl reply as in my opinion it should be shown liable to be paid and after registration it should be paid.
So what can be done now should it show that service tax is liable to paid in balance sheet which has not been charged and paid
Pl reply as in my opinion it should be shown liable to be paid and after registration it should be paid.
11 August 2011
Now if the party reflects the same in his records, that means he was aware of the situation and he has to get registered immediately and pay the service tax instant with interest and penalty for late filing of returns.
alternate
department will initiate investigation and fix audit for the party and will demand the service tax + interest, under this situation he may get saved of filing return of back periods, mere tax payment would be initiated by audit.
alternate
department will initiate investigation and fix audit for the party and will demand the service tax + interest, under this situation he may get saved of filing return of back periods, mere tax payment would be initiated by audit.
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