Dear Sir,
i m working with a patnership firms,my qurey is related to service tax.
We did not file service tax return for period Apr 11 to till now.,how i calculate my service tax becacuse there are two rule-Payment basis and bill basis.
Sachin Rajput (account exe) (593 Points)
07 October 2011Dear Sir,
i m working with a patnership firms,my qurey is related to service tax.
We did not file service tax return for period Apr 11 to till now.,how i calculate my service tax becacuse there are two rule-Payment basis and bill basis.
Pinky Agarwal
(Chartered Accountant)
(426 Points)
Replied 08 October 2011
It is optional to follow both the basis.. You can follow Biling basis from the begining that is from 1st April 2011. In this case calculate ur servic tax liability on billing amount or receipt whichever is earlier.. Last date for filing of service tax return for the period April'11 to September'11 is 25the oct '2011.
Further, in case of partnership firm service tax liability is on quarterly basis..
Regards,
Pinky Agarwal..
Sachin Rajput
(account exe)
(593 Points)
Replied 08 October 2011
thank for reply...
but we hv follow Payment / recived basis in last year.so now what we have to follow
Pinky Agarwal
(Chartered Accountant)
(426 Points)
Replied 08 October 2011
It totlly your choice, U can follow do both either follow accrual basis from the begeining i.e from 1st April'11 or from 1st July'11...
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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