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Urgent plz help

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(Querist)
19 April 2012 Sir,
Please tell me what entry must be made in the books in case of transport service provider who has raised bill including service tax but still payment is to be received from the service receiver.
Whether Service Tax is to be shown as payable in the books as the actual payabilty of Service Tax arises only on the receipt of payment
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
11 May 2012 As per point of taxation rules, service tax is payable at the time of billing in this case.

Accordingly you will have to book the income as well as the service tax liability and also pay the same even if payment has not been received.
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