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Service tax on accrual basis

Queries 1529 views 2 replies

Rohan

Audit Manager

103 Points Joined May 2010

Dear All,

Plz suggest the answer me on following queries.

Now , as per service tax new rule, i have made service tax payment on accrual basis for the month of july 2011. but what about service tax on outstanding / unpaid bills which is booked on before 31.3.2010?

regards,

Rohan

Replies (2)

Prasad

Sr. Manager

617 Points Joined April 2011

Point of taxation rules would not apply for invoices issued before the rules come into force, you will have to pay service tax as per the old rules that existed at the time of raising the invoices - i.e., on collection basis