Q: One of CA office in FY 2012-2013 make billing of 52 lakhs and with a receipt of 40 lakhs whether they are liable to pay Service tax on receipt basis or due basis ? Provide some notification in this reggrds in FY 12-13 and FY 13-14 ?
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Clarification required
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Proviso to Rule 6(1) of Service Tax Rules, 1994.
FY 2012-13 Service Tax on Receipt basis for the 1st 50 Lacs and thereafter on accrual basis.
FY 2013-14 Service Tax on Accrual basis as the aggregate taxable value exceeds Rs. 50 lacs in the preceding FY.
For FY 2011-12, for CA's, the tax was on receipt basis irrespective of any limit vide Rule 7 of POT Rules, 2011 which got amended w.e.f. 01-04-2012
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