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.
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
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Sanath Sheshagiri & Co.
Bengaluru
CA Inter
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Eshwar & Co Chartered Accountants - Nungambakkam
Chennai
CA Inter
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Hema Yashwanth & Associates
Chennai
B.Com
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CCI
Pro
CAclubindia
