I want to pay service tax for the quarter from 1.4.11 to 30.6.11,
my question is," whether i have to pay the service tax on the billed amount (like salestax / vat) or on receipt basis (like old system in service tax upto 31.3.11)"
kindly help me by providing your valuable guidance.
regards
nagarajan
9444333675
Dear Sir
as per my knoeledge service tax will be liable on due basis from 1st july... so for the first qtr service tax will be paid on reciept basis
Pleaes refer attached file for point of taxation
better to pay on billing basis.
Dear Sir
as per my knoeledge service tax will be liable on due basis from 1st july... so for the first qtr service tax will be paid on reciept basis
| Originally posted by : praveen | ||
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better to pay on billing basis. |
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AGREED.
The remittance of service tax in regards to the Billings/ Services rendered upto 30/06/2011 is given to the option of Tax Payer, he can pay the same either on billing or payment basis.
This is as per Rule- 9 as mentioned in service tax notification no- 25 dated 31.03.2011
CCI
Pro
CAclubindia
