Dear All,
I am clear that as per the point of Taxation Rules, 2011 the service tax needs to be paid on accrual basis & this is effective from 01.04.2011.
My doubt is what will be the due date for remittance of the entire amount of service tax uncollected as on 31.03.2011. ie. Will the amount be remitted on accrual basis or on cash basis?
Please clarify.
Thanks in Advance
Ram.
when the system mode is under change, the accountability of tax payable on prior day would be considered in same line,
the assesee has two options, 1) to pay the tax on 31-03-2011 2) to fix the liability on 31-03-2011 and henceforth pay the same on payment basis,
but in both cases the weiver facility which is available till now, viz if servicetax bill is paid less then servicetax is reduced proportionate basis , will not be available,
it will work in line as per other taxes viz excise, vat etc, and no subsequent reduction would be possible for non payment or payment deducted by payee etc.
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