Payment of Service Tax Accrual or Cash Basis - Professionals - Taxation - TIK Share
0 Likes 1966 Views

Payment of Service Tax Accrual or Cash Basis


SANJAY KUMAR GANNA

2014-02-10

Can anybody tell me For an Individual providing professional services:-

 

1. Service Tax payment shall be made on cash basis or Mercantile System.

2. When i should register for Service Tax

3. Procedure for registration under Service Tax

3. How my service Tax Return shall be filed.

4. What if i have not paid my Previous Service Taxes

5. Which are the Input of Service Tax which i will be eligible to claim. 

 

CA Pulkit Sharma

2014-02-10

1. Service Tax payment shall be made on cash basis or Mercantile System?

Its on mercantile basis, except for some service providers like Chartered Accountants, lawyers etc.

2. When i should register for Service Tax?

Should be registered if receipts or billing cross 9 lakh Rs. (This is in general, there are other conditions for importers of services etc.)

3. Procedure for registration under Service Tax?

Please refer Procedure for Service Tax Registration in India

 

Reply

Ca SKG

2014-02-10

1.  For An Individual Upto 50 Lakh Turnover you can make service tax payment on cash basis prevoisuly it was only for 7 professionals but now for all Individual and HUF it is applicable.

 

Reply