Please Help: Billing for commercial coaching center
Posted Date : 26-Nov-2013 , 11:26:53 pm | Posted By Niraj
How to do the billing for commercial coaching center if students pay their fees 2-3 installments mainly with the point of service tax ?
Category : Service Tax | Answers : 1 | Comments : 0 | Hits : 220
Answers
Answer By: shankygarg
AS PER POINT OF TAXATION RULES, IN YOUR CASE IF YOU ISSUE THE INVOICE ON REGISTRATION , POT WILL BE THE DATE OF INVOICE & YOU HAVE TO PAY SERVICE TAX AS PER INVOICE DATE.
AND,IF YOU DO NOT WANT TO PAY SERVICE TAX EARLIER - IT IS BETTER TO ISSUE INVOICE AFTER THE COMPLETION OF SERVICE & ISSUE A RECEIPT WHILE RECEIVING ANY INSTALLMENT PAYMENT. IN THIS CASE POT WILL BE- WHEN YOU RECEIVE THE INSTALLMENT i.e. service tax will be payable on amt. received
AND,IF YOU DO NOT WANT TO PAY SERVICE TAX EARLIER - IT IS BETTER TO ISSUE INVOICE AFTER THE COMPLETION OF SERVICE & ISSUE A RECEIPT WHILE RECEIVING ANY INSTALLMENT PAYMENT. IN THIS CASE POT WILL BE- WHEN YOU RECEIVE THE INSTALLMENT i.e. service tax will be payable on amt. received
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