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)


Service Tax Payable On Payment Basis In Some Cases - Challan Procedure and Due dates


Service Tax Payable on Payment Basis Individual partnership, opc Turnover upto 50 lacs last year Payable on Recipets basic upto 50 lac in current year Bill issued or payments whichever is earlier other cases like 1. HUF 2. Company 3.Individual, Partnership, OPC + Turnover > 50 lacs in previous year or Turnover > 50 lacs in current year

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.