Hi
Can anyone pls help? We rent out buses to companies on contract for 1 year for transport of employees. billing was done on monthly basis & service tax charged @ 4.12% under rent a cab.
With new changes & no proper definition of 'completion of service'. Can we continue billing on monthly basis?
The present system of billing can be continued . Your point of taxation is date of each such bill. But if you receive any payment before billing, date of such payment will be the point of taxation.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
