I am providing Work Contract Service & Civil work services.
my previous year turnover of business is less than 50 lacs.
whether i have to pay Service tax on accrual basis or payment basis.??
one more query is that,
i had service tax @ 4.94%(WCT-Reverse charge) & @12.36% (Civil work-labour charges) on accrual basis, but party while making the final payment , our Bill amount is reduced by 1.25 lacs, but we had paid the service tax on orginal bill amount.
whether we can adjust the excess Service tax paid in future???
22 March 2013
You can pay service tax on receipt basis. Yes you can adjust excess service tax paid in future.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
22 March 2013
Sir, my turnover will exceed up to around 57 lacs.
I am doing separate working for WCT(reverse charges) and Labour work (@12.36%).
SIr, In WCT, we are charging MVAT also,suppose if the party made sum correction in final bill after filing the VAT return, can i revised the return in order to show the exact sales amount.??
CAclubindia
