26 June 2012
Invoice & debit note effects are same in accounting point, but while charging any tax like Service tax & VAT Tax Invoice is mandatory with sequence serial number. Debit note only where the reduction or any other deduction on the original Tax Invoice. so Invoice is required to raise
Querist :
Anonymous
Querist :
Anonymous
(Querist)
26 June 2012
My client issues only debit notes for their services and the same is treated as invoice..is that admissible under the act?
26 June 2012
Invoice is mandatory under service tax
Service Tax is to be paid on the invoice amount or the billed amount. Where invoice is not issued within a period of 14 days then the tax becomes payable on the date of such completion of the provision of the service and on the amount mentioned in the invoice. In any case issue of invoice is mandatory as per Rule 3 of Point of Taxation Rules 2011.