13 April 2016
Dear sir We are partnership firm and paying ST on receipt basis we have issued the invoice for the march on 31/3/2016 but payment for the same was receipt on 10/4/2016 plz tell me when do need to pay ST of this invoice weather on 6/7/2016 or 31/3/2016,
13 April 2016
Hi, With regard to your Query, By considering POT Rules of 2015, Completion of service is on 31/03/2016 & Date of Invoice is also on 31/03/2016, but Receipt is on 10/04/2016, Hence as per rules of POT Due date for Service tax payment is 31/03/2016.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
13 April 2016
But sir i am paying ST on receipt basis as i have receipt the payment on 10/4/2016 hence the due date should be 6/7/2016,
16 April 2016
Is your Turnover/Receipts is <50 Lacs in the previous year? If yes, then you are eligible to pay ST on Receipt Basis and Due date will be on 06/07/2016 & If not its 31/03/2016 as discussed above.
CAclubindia
