Payment of Service Tax on Receipt Basis
Normally,Service tax is payable on Bill or Payement which ever is earlier
However,in case of Individual,Partnerhip,HUF,One Person Company (OPC)
IF taxable turnover from all premises is upto 50 lcs in previous year,
then Service tax payable on receipt basis upto 50 lacs in Current Year
(50 lacs limit is for all 2 in this case, HUF not eligible for Payement of Service tax on Receipt Basis)
