Reverse charge mechanism.
Querist : Anonymous
From question it appears that the bill has been raised on full value i.e. without abatement of 60%. Accordingly in such a case as per notification no 30/2012-ST did 20th June, 2012, only 40% of the total service tax needs to be deposited to govt. directly by service receiver.
for e.g. Bill of Rs 100 plus serve tax rs 12.36 has been issued. In such a case payment of only Rs 4.944 will be paid by service receiver to govt directly.Balance amt of Rs 100 plus serve tax of Rs 7.416 will be paid to service provider by service recipient.
Hope this has settle the issue....
Querist : Anonymous
But one more thing which I would like to ask is that in the example which you have given,suppose we pay 4.944 to govt directly ...then we will be paying balane Rs 107.416 to the service provider.It means the Debtor will stand at Rs 107.416.But the Invoice value is Rs 112.36.Can we book the debtor at an amount lower than the Invoice value?
Querist : Anonymous
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