How to claculate service tax liablity as per new changes. Is service tax liablity is calculated on bill amount irrespective of its payment received or not. please give the example
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service tax liablity calculation
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From April'11 onwards service tax payable should be calculated from the bills raised.
As per new rule the ST is calculated on accrual basis. But for the first 3 months one can opt for cash basis. There are doubts regarding how to offer reciepts of FY 2011-12 which were invoiced before changes in rule. For time being I advise I advise to calculate liablity on accrual basis for FY 2011-12 and Cash basis for the earlier period. Thanks
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