Turnover exceed rs.50 lacs service tax on receipt??
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 March 2013
Dear Expert,
we are providing WCT services & Civil work services @12.36%.
Our client is not paying the money on time and while making final payment they reduced the bill amount also.
last year my turnover is arount 10 lacs ,
this year it exceed 57lacs.
Can i pay service tax on receipt basis??
Bcoz i had done 40 lacs ka work not yet received a single paisa from client.
pls reply
we are providing WCT services & Civil work services @12.36%.
Our client is not paying the money on time and while making final payment they reduced the bill amount also.
last year my turnover is arount 10 lacs ,
this year it exceed 57lacs.
Can i pay service tax on receipt basis??
Bcoz i had done 40 lacs ka work not yet received a single paisa from client.
pls reply
22 March 2013
Dear sir,
According to rule of Point of Taxation.
You should pay the service tax on Bill Raised or Payment received which ever is earlier.
If you have not issue the invoice and work has been done than after 14 Day ( currently now 30Days) you should have to raise invoice.and pay the tax to govt.
so you should paid this without any delay.
Thanks
Rajnish
According to rule of Point of Taxation.
You should pay the service tax on Bill Raised or Payment received which ever is earlier.
If you have not issue the invoice and work has been done than after 14 Day ( currently now 30Days) you should have to raise invoice.and pay the tax to govt.
so you should paid this without any delay.
Thanks
Rajnish
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- TAN for Partnership
- LTCG for Assmt year 26-27
- E way bill for tractors
- Suggestions required for income tax filing-software (FY 2025-26)
- Loan by Partnership Firm
- Plot of land. Cost of Acquisition
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
