I have an query regarding Service Tax liability. In previous Year 11-12 my professional work turnover is Rs.8.5 lac,. now in current financial year 12-13 ist bill submitted by me Rs.9 lac excluding any charge of service tax towards my client. & going to be submit another bill amounting Rs.14lac & charge @12.36% service tax thereon. So, My query is my service tax liability in current F.Y. calculate on Rs.14 lac or total amount of turnover i.e. Rs.23 lac.
22 March 2013
Is you first time exceed Rs.10 lacs your tournover(gross receipts) after the getting of service tax? if yes, then you have to pay your service tax on Rs.14 lacs and onwords if any future bills for f.y 2012-13.
22 March 2013
But he collected service tax on Rs.14 lacs so i suggested has to pay service tax Rs 14 lacs. Because of according to my knowledge i noticed if any short or not collected service tax then assumption will make service tax also collected in the fees charges(service tax included in fees) if any excess service tax collected than required then entire collected service tax has to be pay to the Government. So actually you required to collect service tax on Rs.13 lacs and need not to collect on Rs.1 lac but he collected i.e he excess collected service tax thus he has to pay service tax on Rs.1 lacs also to the government.
CAclubindia
