10 April 2008
Please clarify as to when does the service tax liability on advance received from the clients rise? in case, the advance was received in F/y 2006-07 and the bill is raised in the end of F/y 2007-08.i.e, Mar-08. When do we need to pay service tax.
In the similar situation, if the advance is only partially adjusted against the billl raised in Mar-08. What is the service tax liability.
Request you to enlighten me with circular/notifications from the department
CAclubindia
