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Reverse charge liability on cash transactions or not
Suppose Xyz Ltd. co. received a renting or hiring motor vehicle service from Mr. A who is an individual. In the books of Co. if company recorded this transaction as: Conveyance Exp a/c Dr. To Cash. a/c So in the hands of company service tax reverse charge liability arise or not on this cash transaction. (Party name does not arised anywhere in the books ) Please reply me for proper guidlines.
Replies (2)
In this case you have to provide justification of Conveyance paid, if it found as services received from transporter then you have to pay Service tax with interest and penalty too.
Thank you GANESHAN sir
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