When is service tax to be booked
This query is : Resolved
ALOK C MISHRA
(Querist)
09 February 2013
I WANT TO KNOW THAT WHEN IS SERVICE TAX IS TO BE BOOKED IN THE BOOKS OF THE COMPANY.
1)WHEN SERVICE IS PROVIDED
2)WHEN CONTRACT IS MADE
3)WHEN PAYMENT IS RECEIVED.
1)WHEN SERVICE IS PROVIDED
2)WHEN CONTRACT IS MADE
3)WHEN PAYMENT IS RECEIVED.
Rajnish Singh
(Expert)
09 February 2013
After the providing of service , with in 14 days after the completion has to raise invoice. where is the matter of payment/booking of service tax. following rule has to follow of Point of Taxation.
invoicing or payment which ever is earlier.
second if invoice is not raised than complition date of project deemed to pay service tax.
so try to raise invoice with in 14 Days after the complition of project.
invoicing or payment which ever is earlier.
second if invoice is not raised than complition date of project deemed to pay service tax.
so try to raise invoice with in 14 Days after the complition of project.
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CA.Hanumantha Reddy
(Expert)
19 February 2013
Just note that the Rule 4A(1) has been amended w.e.f. 1.4.2012 on words. Time limit for issue of invoice is 30 days (45 days for financial services).
Message likes :
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ALOK C MISHRA
(Querist)
26 February 2013
Thank you very Much sir.
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