17 May 2009
One of our claint having turnover 30 lacks, now my quation is that they not paid the service before 31.3.2009. it amounted to rs.125000. is that amount will amount is added to his proift or can we show it as o/s Service tax liabilty .
18 May 2009
It should be shown as O/s liablity. However it need to be paid till due date (31st July or 30th Sep as the case may be) of filing of return otherwise it will be added to profit and taxed.
CAclubindia
