Service tax "reverse charge mechanism'

Queries 1117 views 4 replies
User Avatar

ACCOUNTANT
69 Points Joined September 2010

Dear all

If a partnership firm rendered service under "Construction of Res. Complex" service in march 12. If it raised invoice in July 12 what will be the rate of service tax & abatement (No payment is received till July 12). It will very helpfull to me, please reply soon. I also request you to please provide the reference circular / notification.

 

Regards

 

SANTANU

0 Reply Share Follow
On 22 August 2012 at 16:17 Report
Replies (4)
User Avatar

Corporate Taxation
392 Points Joined November 2009

Dear Santanu

Value for service portion shall be 40 % of total amount charged .  please go to rule 2A  Clause (ii) of new  determination valuation rule, 2006 effective from 01.07.2012

1 Reply
On 22 August 2012 at 18:17
User Avatar

ACCOUNTANT
69 Points Joined September 2010

Thanks for your quick reply. Is there any necessity to raised invoice within June 12 for wrok done within March 12?

 

regards

 

SANTANU

Reply
On 22 August 2012 at 18:28
User Avatar

Corporate Taxation
392 Points Joined November 2009

in general view there is no necessity to raised invoice in june 12,

1 Reply
On 22 August 2012 at 18:44
User Avatar

Accounts Executives
25 Points Joined September 2009

Dear All,

1.) Security Service Provider is Company in this case Reverse Charges mechansim is applicable for  25 / 75 % (ManPower Service)

2.)  when we input service Tax Credit in Reverse Charge Mechansim Case

Thanks & Regards

Raja

1 Reply
On 10 September 2012 at 13:29


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading