Taxation query

i have raised advance bill for works contract service on march f.y. 11-12 and my TDS on same bill was deducted in quarter-4i.e. in March.

But i have file VAT & Service Tax return NIL in March becuase i want to show this bill for F.Y. 2012-13

Can I do So ?

What is tax consequances ?

Replies (2)

Hi Devang,

                   U must file return revised for the F.Y.-2011-12

By virtue of Rule 4A of the Service tax rules, the service provider has to raise an invoice within 30 days of the date of completion of an event or completion of the service. Also as per the Point of taxation Rules, 2011, you cannot raise an invoice on advance, as your point of tax is either the date of completion of service or the date of invoice as per Rule 4A as said above. Hence, the department will ask for tax payment in the month in which service is provided.

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