Service tax payment on works contract under reverse charge method.

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..... Service tax payment on works contract under reverse charge method.
Query (Issue) Started By: - vinay wakde Dated:- 18-7-2012 Last Reply Date:- 25-7-2012 Service Tax
Got 3 Replies
Service Tax
Kindly clarify if the payment against the Bills/invoices under works contract is made during July,12 for the services received in June,12. In this case, whether we have to pay 50% service tax unde .....

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..... r reverse charge method? or we have to pay service tax as per old provisions. Regards, VINAY Reply By JAMES PG: The Reply: Please refer to Point No 10.1.7 of the Education Guide on Service Tax : 10.1.7 Is the reverse charge applicable on services provided and complete before 1.7.2012 though payments were made after 1.7.2012? For any service whose point of taxation has been determined and wh .....

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..... ole liability affixed before 1.7.2012 the new provisions will not apply. Merely because payments are being made after 1.7.2012 will not add any additional liability on the service receiver in respect of such services. Reply By PRAVEEN KUMAR: The Reply: AS PER OLD PROVISION Reply By nv n: The Reply: Sir, I have one practical point, even if pay the payment in ateror l , for the services provide .....

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..... d before july , the justification at the time of assessment is difficult. basically as per the ST rules with in 30days of after providing the service the invoice to be raised & to be accounted. hence in the case of payment in july for june service is fine. late july payment, better the Invoice date to be considered.
Discussion Forum - Knowledge Sharing .....

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