Advance money received
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 November 2011
Dear Sir,
Advance money received (for eg: 100000)for a taxable service not yet rendered or to be rendered in subsequent months is liable to service tax. my question is whether service tax payable is to be calculated on 100000 or it is to be assumed that this amt already contains service tax component and as such the same is to deducted and service tax is to be payable on 90662/-
Advance money received (for eg: 100000)for a taxable service not yet rendered or to be rendered in subsequent months is liable to service tax. my question is whether service tax payable is to be calculated on 100000 or it is to be assumed that this amt already contains service tax component and as such the same is to deducted and service tax is to be payable on 90662/-
08 November 2011
reverse mechanism would apply and deemed that 1lacs is inclusive of ST, hence st payable on 90662
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Applicability of Ind As to associate of associate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
