AMC billing after contract start date

[leela mahesh]

Dear Sir,

for amc i m billing 3 month after contract starts date. is it acceptable or not ?

reply need

[YAGAY andSUN]

Dear Leela,

As per the new rules you have to issue invoice/bill within 30 days (earlier it was 14 days) after the completion or providing of the taxable services. You may be penalized for non compliance of law.

Regards

YAGAY and SUN

(Management and Indirect Tax Consultants)

[Mahir S]

Also refer rule 4A (1) of Service Tax Rules, 1944 for detailed study of the topic, and vide notification no. 3/2012 ST dated 17-3-2012, w.e.f. 1.4.2012, the time limit has been changed to 30 days.

[Arun Kumar Singh]

Yes, it is acceptable.

AI Summary

Invoice timing for taxable services: comply with statutory billing time limits to avoid penalties for delayed invoicing. Invoices for taxable services under the applicable Service Tax Rules must be issued within the statutory time limit following provision or completion of the service; a notification extended that time limit to thirty days and delayed billing beyond the prescribed period may attract penalties for non compliance. Forum responses emphasize the 30 day requirement and warn of potential penalties, though one respondent indicated later billing might be acceptable.