Q.1 A mega exemption notification which covered a service was removed
thus became taxable from 1-3-2016.
one service provider rendered the service on 20-02-2016 and received payment on 27-02-2016
the invoice was however raised on 18-03-2016
the value of service is rs 100000 and the tax rate is 14.5%
tax liability??
Q.2 Jai hanuman Ltd. engaged in service of repair and maintenance of generators has service tax collections (output) of rs 200000
during the period if excise duty on machineries acquired rs 50000 and service tax (input) rs 20000
the tax liability?
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servicee
Replies (3)
1. Nil
2. Rs.1,80,000/-
thankyou sir
and also
can you tellme
that in 1st question
why it is nil
options for the question are:
a. nil since service was rendered before it became taxable
b. nil since service was rendered and invoice qas raised before taxability
c. not taxable since amount was received before the service became taxable.
thanks in advance
and also
can you tellme
that in 1st question
why it is nil
options for the question are:
a. nil since service was rendered before it became taxable
b. nil since service was rendered and invoice qas raised before taxability
c. not taxable since amount was received before the service became taxable.
thanks in advance
a. nil since service was rendered before it became taxable
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