Service Tax via Debtors

1) debtors are common for sales and services

2) debtors are made for credit , cash services / sales has to be taken in account for reconcilation.

Dear Mr. U S Sharma,

But Service Tax Ledger show only the debtors from which Service Tax have charged.

Regards,

Vikash Kumar

you have to scurtinize your accounting system, some misc charges are included or discounts are offered post invoicing. 

opening balance of debtors ledger may be the reason for error

Dear Mr. U S Sharma,

Yes ...... i am agree with you.

But can u confirm me from which Date Service Tax rate have revised from 12% to 10% p.a.

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, IN PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(Department of Revenue)

 New Delhi, dated the 24^th   February, 2009

Notification No.  8 /2009 – Service Tax

G.S.R.      (E). – In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts all the taxable services specified in sub-section 105 of section 65  of the Finance Act from so much of service tax leviable there on under section 66 of the Finance Act, as is in excess of the rate of ten per cent of the value of taxable services.

(Unmesh Sharad Wagh)

                                           Under Secretary to the Government of India

[F. No. 354/210/2008-TRU(part)]

Thank a lot.

Regards,

Vikash Kharvar