Service tax

As and when you receive the input service you can take the credit. Need not wait for filing of return or payment of tax. But till the budget 2011 an assesee was allowed to take credit only after he makes payment to service provider. Post budget 2011 check if there is any change.

Regards

Dayananda

suppose till 31.08.11

output service tax- Rs100000/- and input -rs10000/-

than how much deposit in bank.

Service tax is also work as Vat but it is known as CENVAT. It depend on nature of work , section and subsection that cenvat allow. if the cenvat is allowable than work as vat simply.

than i would be depost rs 90000/-

Option of paying of receipt basis canbe exercised upto 1.7.2011. In that period ST payable = ST billed on amount recived less cenvat on input services [ to extentpaid]

After 1.7.2011 the payment is on billing/ advance or completion whichever is earlier.

sir supoose

after 01.07.11 our output service tax is-200000/ and input -15000/ than how much service tax will be deposit in bank .

185000/- must be paid