As you know , from july 2011 the rule of service tax are changed in concern of payable.
where is the matter of service tax payable. you should maintain the statement as party's name. bill no , date amount work done date , payment recd date . tax applicability point basis on, amount , service tax payable.
Note : where is service tax applicablility point basis menas either Bill basiss, payment recd basis or work complition basis.
whereas input it is maintain on paid basis in following manners.
party name , bill no , date , amount, paid date, paid amt, service tax input.
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