As per earlier provisions of service tax firm had to pay the amount due when it received the payment, however from 01/07/2011 payment was due as per billing and not when you receive the payment.
My question is does a firm has to pay service tax for Billing done in F.Y. 2009-10 & F.Y. 2010-11 for which payment has not been received till date? if yes what will be interest rate?
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Service tax
Replies (2)
No..For biling done before change in law service tax will be payable on receipt basis only..
No.. billing done before POT.. so St only require to paid when amount related to that biills received...!!!!
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