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taxation

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 November 2009 whether the service tax liability lies on gross amount realised or net amount realised?
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Sunil

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Sunil (Expert)
25 November 2009 It is levied on what is received by you and you can mark down the calculation. However, you will have to issue a credit note adjusting the value of your bill downwards and keep evidence of acknowledgment by service receiver of reduction in bill.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
25 November 2009 agree
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