Gaurav (Learner) (45 Points)
21 July 2011Hi..
I just want to confirm that as per amendment in Service Tax as on 01.04.2011, now is service tax payable on date of bill issue instead only after realisation dat of the bill as earlier??
Many are saying that this rule has been put on hold and Government has been rethinking on the amendment.This has created a confusion because i cudnt find any notification regarding this.
Can anyone please make it clear coz i have payed the service of 1st Qrtr only as per realised bills.
CA SALONI
(CHARTERED ACCOUNTANT)
(391 Points)
Replied 21 July 2011
yes dear,even i think its applicable from 01/04/2011
Gaurav
(Learner)
(45 Points)
Replied 21 July 2011
But the main problem remains the same...i still cudnt figure out to pay the Service Tax on the unrealised bills too or not..Also i came toknow that the earlier way of payment on unrealised bills is till 30.06.2011 and from 01.07.2011 onwards, it will be required to pay the S Tax regardless only on being realised.
hitesh
(Telecom Industry)
(169 Points)
Replied 22 July 2011
it is applicable from 01-04-2011, however there was an option granted to make it available from 01-07-2011, if the invoice for the services ending June 30th are raised upto 30-06-11. From 01-07-11, it is mandatory..
from 01.07.11 you need to pay the service tax at the earliest of
a) Receipt of Payment
b) Raising of Invoice or completion of provision of service read with Rule 4A and Notification No. 144 dated 18th July'2011.
Gaurav
(Learner)
(45 Points)
Replied 22 July 2011
Dear Hitesh.
Thank you very much for your help.
Regards.
CAclubindia
