Please Help: Service tax
Posted Date : 08-Nov-2012 , 03:37:57 pm | Posted By CA Rahul Prashar
We have raised the invoice of service tax to the party in 2010-11 before the applicability of point of taxation rules 2011, the amount of service tax is on around 28 lacs and payment is not received from the party till oct 2012. now the point of taxation rules came into force and liabilty of service tax is on accrual basis.
My question is that when we have not received payment from the party, whether their is liability on our side to deposit the service tax to the government as per new rules or there is any penalty on the same.
pls clarify as per point of taxation rules ,2012.
My question is that when we have not received payment from the party, whether their is liability on our side to deposit the service tax to the government as per new rules or there is any penalty on the same.
pls clarify as per point of taxation rules ,2012.
Category : Service Tax | Answers : 1 | Comments : 1 | Hits : 168
Answers
Answer By: Deepak Birla
Point of taxation rules are not applicable where services are completed or invoice are issued before applicability of these rules.
Comments
vipul jadhav
18-Dec-2012 , 08:44:13 pmpoint of taxation rules not applicable.