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Experts Exchange

Service tax on advance receipt against bank guarantee

Posted by MD Fasial

1.We are Government Civil Work Contractor. We do contracts in UP Housing Board, PWD, UPRNN, SKNN etc.
2. My assessing authority imposing service tax demand on advance received during service tax regime from UP Awas Vikas Parishad against bank guarantee (on same bank guarantee we paid Margin money or Bank charges for the same).
3. Service Tax department making point that 10 Crore which i received as mobilizations against B.G. is advance for my work and UPAVP charged TDS on the same.
4. We are opposing that UPAVP provide mobilization advance against B.G. and deducted from our 10 running bills. So liability under the provision of Point of taxation of service tax will not be charged because we take it as loan and we repaid in 10 running bill in a row.

Please enlighten us on above points

thanks & regards

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Updated on : 22/10/2018 01:44:02


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