when there is need to pay service tax in financial year 2011-12 ?
1. Bill making date..
or
2. when payment receipt.
8 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 13 April 2011
| Originally posted by : Deepak | ||
 |
when there is need to pay service tax in financial year 2011-12 ? 1. Bill making date.. or 2. when payment receipt. |
 |
CA Chintan Vyas
(Chartered Accountant)
(116 Points)
Replied 14 April 2011
Due date of Payment would be :
Bill Date
OR
Receipt
Whichever is earlier
Prinkle
(Working in a Liquor company)
(38 Points)
Replied 15 April 2011
Incase you don't issue a bill & even payment is not being received
RENGARAJ R.K
(ADVOCATE)
(7557 Points)
Replied 15 April 2011
Mr Deepak,
In this budget, the point of taxation rule is changed. As per this rule, whether you receive the money or not, you have to pay the service tax on the debit note/invoice raised during the month. This is applicable from 01.04.2011. In other words, like sales tax/vat we have to pay the output tax at the end of the month and service tax shown in the service bills raised by you has to be paid on the due date, i.e 5th of every succeeding month. 6th is the last date for e-payment. Earlier, the service tax is payable only on the amount received including advance.
rengaraj.r.k
CA Rohit Gupta
(Partner)
(1982 Points)
Replied 17 April 2011
applicability of point of taxation rules has been postponed till 1st july 2011 vide notification 20/2011 and 21/2011 published on 30th march 2011
Lalit Kumar Gupta
(Service)
(609 Points)
Replied 18 April 2011
Hi………. Rohit Gupta
Provisions of Point of Taxation rules, 2011 are applicable from 01.04.2011.
Please read carefully the notifications which have been referred by you.
Pinky Agarwal
(Chartered Accountant)
(426 Points)
Replied 18 April 2011
It is at the option of the assessee's. If they want can either follow it from April 11 or from July'11.
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