My client has render taxable service of Rs.15,34,544/- during financial year 2010-11 and out of which Rs. 268,000/- realised/received in the same year. Please advice when liability to get registration arise and levy of service tax from which date i.e. from the across 10 lakhs taxable service render or taxable service bill raised from 01.04.11 i.e. from next year. If balance amount of Rs.12,66,544/- received in 1st quarter of 2011-12, than my client has to pay service tax on Rs.2,66,544/- or Rs.12,66,544/- on which my client has not collected service tax.
Should any implication take place if recent amendment in service tax i.e. receipt basis to accrual basis?
|
Year |
Op.bal
|
Bill raised Service Tax not collected |
Payment received |
Cl-Bal |
Year |
Op.Bal |
Bill raised Till15.6.11 Service Tax collected |
Payment received |
Cl-bal |
|
10-11 |
NIL |
15,34,544 |
2,68,000 |
12,66,544 |
11-12 |
12,66,544/- |
2,50,000/- |
12,66,544/- |
2,50,000/- |
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RUSHABH SHAH
CAclubindia
