Dear Friends,
Kindly clarify the following points.
1 Advance amount is received by a professional company on account of fees or out of pocket expenses(yet to billed by the company) from a client.Whether Service tax is applicable. If so, how to arrive at the service tax amount and when it should be deposited-(on the date advancee was received or at the time of final settlement)?
Thanks and regards
Ganesh
Menu
Service tax on Advance recd towards fees or OPE
Replies (1)
Yes. i think as Rule 6 is added by explanation -to say that advances are sub to Serv Tax.You have to deposit Serv Tax on the amount -to the extent advance recd is attributable to that month.
Recent Topic
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
Related Topics
CAclubindia
