Payment on cash basis of service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 February 2015
Dear Sirs
A Prop. firm having turnover of less than 50 lacs , was paying service tax on accrualbasis till Sep. 2014. now my question is
1. Can it switch to cash basis from Oct 2014 ?
2. If yes then what happens of payment received in Nov. 2014 for bills raised before 30.09. 2014 on which tax was paid on accrual basis ?
A Prop. firm having turnover of less than 50 lacs , was paying service tax on accrualbasis till Sep. 2014. now my question is
1. Can it switch to cash basis from Oct 2014 ?
2. If yes then what happens of payment received in Nov. 2014 for bills raised before 30.09. 2014 on which tax was paid on accrual basis ?
16 February 2015
Reply to Query 1: Yes you can switch, because rules nowhere restrict.
Reply to Query 2: if bills on which tax paid on accrual basis and payment received in November 2014, then no need to charge tax and no need to show in ST-3.
The reason for not showing in ST-3 because you have already reported that turnover in April to September return.
Reply to Query 2: if bills on which tax paid on accrual basis and payment received in November 2014, then no need to charge tax and no need to show in ST-3.
The reason for not showing in ST-3 because you have already reported that turnover in April to September return.
Message likes :
1 times
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- 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
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
