Poonawalla fincorps
Poonawalla fincorps

whether credit amounts to payment

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 March 2010 In business parlance, first the parties bills are credited in the accounts and actual payment is made later by cheque or any other mode.
In such circumstances, which stage shall constitute payment for discharging service tax liability?
The basis of above query is that in the month of march,2010, all transporters bills are being accounted for and the actual payment shall take place later. So in march, service tax is payable on the actual payment amount or on bill amount credited also.
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Vishnu Saboo

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Vishnu Saboo (Expert)
30 March 2010 would be better to pay service tax in credit given month.
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Querist : Anonymous

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Querist : Anonymous (Querist)
30 March 2010 Dear mr. expert it is not a matter of betterment, exactly what is the legal requirement.
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