Payable on billing basis
This query is : Resolved
25 June 2011
A notification came that Service tax is payable on billing basis as on 1st July 2011, I want to know that what does the statement says? Is they are saying that whether you have received the amount of services provided or not you have to pay the service tax on the full amount billed?
27 June 2011
Earlier When you receive the money your tax liabity but from 1st july 2011 when you bill for the Service rendered you are liable to pay service tax.
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27 June 2011
Irrespective of realisation,once bill is issued liability of Service Tax arises from 1st July 2011.
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