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Question ID : 42186


A CA firm having Professional receipts less than Rs. 50 Lacs in FY 2015-16 . Whether Service tax department is levied on Relaisable basis or mercantile basis . Pl. suggest along with relevant provisions /notifications/rules etc.

Posted by SANDEEP KAPOOR on Dec 04, 2021

Filed Under Service Tax

Answer ID : 81377

As per the relaxation allowed for small taxpayers (specifically in case of professionals like, CA, CS, CWA) it was allowed to be levied on Realisable basis. But, even though Assessee can opt for Mercantile basis also

Posted by SURAJ KUMAR CHOUDHARY on Dec 07, 2021