Written of service tax
This query is : Resolved
16 March 2008
my client got payment for services only and his customer refuses to give service tax to him. so he had reversed the entry for service tax.. is it valid?
16 March 2008
The actual amount received is deemed to be inclusive of ST. that's why, u have to pay the tax collected to the govt. In my opinion,ur client shall not reverse the entry of ST
17 March 2008
THE ACTUAL AMOUNT RECEIVED SHALL BE DEEMED TO BE RECEIVED INCLUSIVE OF ST
24 March 2008
but he made reverse entry, should i rectify the same? Is he liable to pay penalty? What amount for revenue recognise is recognise?
24 March 2008
It is not valid. As the party has refused to give Service Tax and paid only Service charges then such amount received will be treated as inclusive of Service Tax and revised bill can be issued to him. If service provider failed to do so then he has to bear the amount of service tax i.e. he has to pay out of his pocket.
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....................................................
- Supply through E-commerce Operators
- TAN for Partnership
- Relief u/s Section 89
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Taxation on LTCG for property sold after 24JUL2024
- E way bill for tractors
- SALE BILL AGAINST GOODS RETURN
- 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
