We have taken one order from one company of Rs 50000/-for services.
1.If i take advance of Rs.10000/-then should i raise invoice of Rs 50000 or Only should i raise invoice of Rs.10000. 2.on which amount we want to pay service tax to government.
30 September 2015
Hi, first raise the invoice for receipt of amount in advance (in your case 10,000.00) and pay service tax on the same, later once your complete the agreed services, then pay service tax on that bal. amount (in your case it is 40,000.00).
Note: In case if you receive any amount again, before the completion of service, then pay service tax on that amount before you complete the providing the services to the party.
There is showing only we have to raise invoice with in 14 days from (Completion of service)and received any any receipt toword the value of taxable service.
There is not showing,on which amount we have to raise invoice.
30 September 2015
extracts of that rule:- Every person providing taxable service shall....days from the date of such taxable service or receipt of any payment towards the value of such taxable service, whichever is earlier] issue an invoice
CAclubindia
