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Provision of service tax
If provision of service took place before the service became taxable but payment has been received after service is taxable then is service tax levied or not?
Replies (2)
Where a service is taxed for the first time, then,-
|
(a) |
no tax shall be payable to the extent the invoice has been issued and the payment received against such invoice before such service became taxable; |
|
(b) |
no tax shall be payable if the payment has been received before the service becomes taxable and invoice has been issued within fourteen days of the date when the service is taxed for the first time.] |
in your case as per the above points it is Taxable since payment is received after the service became taxable
What if the invoice was issued before service became taxable but payment was received during taxable period??
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