Invoice raised by assessee

This query is : Resolved

Saranjha (Querist)
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07 May 2009 Dear All,

"Every assessee should raise an invoice/bill within 14 days of rendering service, indicating the value of service and service tax payable. "

If the invoice is not raised within 14 days, but at a later date, what will be rate at which service tax is to be charged.

For example:

Service was rendered on 25th January 2009.
Invoice was raised only on 2nd March 2009.

What is the S.Tax rate that is to be charged - 12.36% or 10.3%?

Kindly reply at your earliest.

With regards,

Saranjha.

SIDDHARTHA SANKAR ROY

SIDDHARTHA SANKAR ROY (Expert)
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07 May 2009 You may be charged with penalty under Section 77

Saranjha

Saranjha (Querist)
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07 May 2009 So, does that mean that service tax should be charged within 14 days and at 12.36%?

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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07 May 2009 Service tax is to be levied at the rate prevailing on the date of rendering/completion of service. Date of issuing the bill and the penalty provisions are a different issue and has nothing to do with the tax rate.