Payment of tax under gst
Query (Issue) Started By: – THYAGARAJAN KALYANASUNDARAM Dated:- 23-7-2017 Last Reply Date:- 26-7-2017 Goods and Services Tax – GST
Got 6 Replies
GST
Dear expert,
We are running a tax consultancy firm and registered with the service tax department and discharging the taxes on the receipt basis, because our turnover less than 50 lakhs p.a.
My question is if we receive the payment from the clients, against which we raised the invoices and rendered the services prior to appointed day.
1. How to discharge the service tax liability since this receipt may continue more than 1 year. Whether should we pay existing tax or new gst on the services rendered and invoices raised before appointed day.
2. The fi
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
in the GST Rules for deposit of Service Tax into GST.
During the year 2015, when HE and SHE Cesses were abolished, Govt. allowed to transfer the credit on these cesses into BED. Ed. Cesses in Central Excise sector were allowed to be used in BED in respect of invoices which were issued on or before 28.2.15 and goods(inputs) were received on 1.3.15 or after 1.3.15. Similarly, in respect of Service Tax Sector, credit on Ed.Cesses were allowed to used in BED in respect of those invoices which were issued on or before 30.6.15 but input services were received on or after 1.7.15.
Reply By MARIAPPAN GOVINDARAJAN:
The Reply:
As indicated by Shri Sethi GST will not attract in your case. In my opinion you may pay the amount as and when received.
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =