One of the my client has a practice to file the service tax return on receipt basis (Realization) till 25/10/2015. Now this period (April to March 2016 ) the problem arise that there is no column in latest service tax return on receipt basis (Realization). Please guide us receipt basis (Realization) return is applicable or not
Suppose They have a bill Dated 2802/2015 ST rate 12.36 % Bill Amount 55000.00 service tax Rs 6798.00
Payment of Rs 61798.00 (55000+6798) received of above bill on 19/12/2015
We have not declare above bill in the period october to march 2015 and want to declare in the period oct to march 2016 return We have a practice to file return receipt basis (Realization) how to declare in form service tax return ST- 3 in which column.
Kindly provide the best solution as earlier as possible
24 April 2016
The latest ST - 3 Excel Utility downloaded (for returns from October 15 to March 16 onwards) does have this row in Part B - Row B 1.3. It is under the third proviso to Rule 6(1) that assessees (proprietorship / firms) with taxable turnover of Rs.50,00,000/- or less can pay service tax on receipt basis. Hence the amount should be shown in Row B 1.3, as there is no other place to show such receipts.
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