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

  1. Tax Practical
  2. Practical Service Tax
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CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .