Written of service tax
This query is : Resolved
16 March 2008
my client got payment for services only and his customer refuses to give service tax to him. so he had reversed the entry for service tax.. is it valid?
16 March 2008
The actual amount received is deemed to be inclusive of ST. that's why, u have to pay the tax collected to the govt. In my opinion,ur client shall not reverse the entry of ST
17 March 2008
THE ACTUAL AMOUNT RECEIVED SHALL BE DEEMED TO BE RECEIVED INCLUSIVE OF ST
24 March 2008
but he made reverse entry, should i rectify the same? Is he liable to pay penalty? What amount for revenue recognise is recognise?
24 March 2008
It is not valid. As the party has refused to give Service Tax and paid only Service charges then such amount received will be treated as inclusive of Service Tax and revised bill can be issued to him. If service provider failed to do so then he has to bear the amount of service tax i.e. he has to pay out of his pocket.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- Confusion around Form 26QB fields
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
