Wheather service tax for the month of April 2011 is payable on invoice basis or receipt basis.
Please clarify its urgent.....................
thanx in advance
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Service tax for april 2011
Replies (4)
Service Tax payable on Invoice basis from 01-04-2011 as i have personely visited to supretendant of service tax and he is also advise me to do the same.
INVOICE BASIS
RECTIFY ME IF I AM WRONG
The assessee's have been given an option that they can either pay service tax on receipt basis or can follow point of taxation rules that is to pay service tax either on receipt of money or issue of invoice whichever is earlier upto 30th june.
Specified professionals like advocates, architects, CA/CS/CWAs continue to have to pay on receipt basis.
For the balance the POT rules can apply from 1.7.2011. One has an option of going in from 1.4.2011 if they so choose. Large companies may not be interested in having 2 methods within the year and they may choose to do go for it from 1.4.2011.
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