15 April 2015
Dear all expert my turnover is below the 50 lacs. and i want to deposit the service tax on the receipt basis. please tell me in the receipt basis. should i charge 12.36% ST in the bill.
19 April 2015
From 01st April 2012, all the individuals and partnership firm (including LLPs) service providers whose turnover is Rs.50 lakh or less in the previous financial year, have an option to pay service tax on receipt basis upto Rs.50 Lakhs taxable value. Beyond 50 lakhs, service tax will have to be paid on the accrual basis on the basis of issue of invoice.
So you can pay Service Tax on Receipt Basis. Charge ST in Bills and Pay Service Tax when payment is received.
20 April 2015
Dear sanjay sir to opt service tax payment on receipt basis . i also have to follow the point of taxation rule. suppose if i have issue the invoice on 20/4/2015 and payment is receipt on 20/7/2015. as per my above Query which date is to be booked for POT, and what will be the due date for ST payment whether 5/7/2015 or 5/10/2015.