professional fees received after 1st July

dilshad (articled assistant) (31 Points)

01 July 2017

I have provided services and issued bills prior to 1st July. what is the position of such receipts received post 1st July?

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SUPRIYA (PRACTICE) (853 Points)
Replied 01 July 2017

As supply of service and issue of invoice both event occured prior to 1st July, Service tax shall be applicable.

Assumption Mercentile basis of accounting followed where service receipts are accounted on issue of invoice.

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dilshad (articled assistant) (31 Points)
Replied 02 July 2017

hi Supriya! Thanks for your reply. can you please help me understand if the transitional provisions will apply to such receipts?

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