Dear Experts
My company has given works contract to one sole proprietor, he started work in December 2015. Almost 95% work is finished now.He raised first bill for 70% of work done in March 2017. We paid Service Tax under Reverse Charge Mechanism on 31-03-2017. He is planning to raise the balance bill in April. Please advice me ,how can i record the transaction on 31-03-2017 whether i have to make provision for the for the balance work for which bill has not raised and service tax and TDS applicability.
Thanking you
Jerry
CAclubindia
