30 May 2013
Sir; I have pass entry on 31st March'13 for accrued income on that time service tax not applicable. But from 1st April'13 service tax applicable. Please suggest me, what entry pass when i actual income generate.
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05 June 2013
Taxable services has been provided before the change in the effective rate of tax;
i] where invoice has been raised and payment has been received after the change in tax rate - service tax applicability shall be date of issue of invoice or payment which is earlier.
ii] where the invoice has been issued before the change of tax rate and payment has been received after the change of tax rate -service tax applicability shall be date of issue of invoice
iii] where the payment has been received before change of tax rate and invoice has been raised after the change in tax rate -Service tax applicability shall be date of payment.
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