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Services tax on builders

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Querist : Anonymous

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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.
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U S Sharma

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U S Sharma (Expert)
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.
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