Any recent notification as to: In construction industry, whether Service Tax has to be paid as soon as we raise the bill and give it to the party instead of paying ST at the time of receiving the payment? Can anyone please clarify?
Nirmala (Articles Student) (107 Points)
30 January 2009Any recent notification as to: In construction industry, whether Service Tax has to be paid as soon as we raise the bill and give it to the party instead of paying ST at the time of receiving the payment? Can anyone please clarify?
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 02 February 2009
In general, when a service bill is paid, service tax becomes payable. This is true even if part bill is raised and part payment received. Relevant date of payment of service tax has nothing to do with the relevant date for payment of sales tax.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
