the debtors outstanding as on 31st march, 2011 have been provided with their services before the balance sheet date. am i supposed to pay the service tax on mercantile basis or cash basis as per the new notification. i.e. if i have not received any payments for the services provided in the march, 2011 am i still to pay the service tax????
07 April 2011
No need to pay since the new proposal is being shelved for a short period. Pl see para no.2 in http://taxguru.in/service-tax/service-tax-clarifications-amendments-point-taxation-rules-2011.html
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