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Q. > Please Help: service tax
Service Tax now payable on Billing basis wef-01-07-2011. pl explain
answered Jul 01, 2011 by PRIYANKA , GREATER NOIDA
Dear sashi, earlier service tax used to be paid on reciept of particular payment no matter when u raised bill for that particular service..for eg.u raised bill of Rs. 20000/- to a party in dec 2010 but payment is recieved in April 2011 so in that case service tax was to be paid till 5th may if on monthly basis and 5 th july if on quarterly basis on that particular bill. but now after this amendment, service tax will have to be paid when bill is raised and not when payment is recieved..taking the above example it would have to be paid till 5 january as per new notification in both cases either if it had to paid monthly or quarterly.
answered May 21, 2013 by Vikash Kumar Jha , Cuttack
Agree with priyanka
Experts Panelist
Comments
sashi
02-Jul-2011 , 01:04:55 amthanks, aap ne bht acche se explain kiya.