Check sibling questions

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)

Learn More

Davneet Singh's photo - Teacher, Engineer, Marketer

Made by

Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.