Menu
Service tax adjustments
Dear sir,
I have an querie is there any provision for following situation in Service Tax Act,
We recieves advance payment from parties when service tax rate is 12.36% but we provide service when service tax rate fall down to 10.30%
Thanks for your concern N have a prospering new year for all you readers!!
Replies (1)
situation 1)
you have paid service tax on payment basis on receipt of amount irrespective of the invoice date, then u have to charge 12.36%
situation 2)
you have accounted the amount as advance and to be settled against bills raised, on the date of invoice/ bills- then charge 10.3% and make refund of 2% to clients.
Recent Topic
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
Related Topics
CAclubindia
