https://www.taxtmi.com/forum/issue?id=4751 Costs incurred on ongoing contracts may be accrued as unbilled revenue and included in turnover under the accrual/matching principle, even if invoicing is deferred by contract terms. Tax liability for services or works contracts is generally triggered by invoicing or other statutory tax points, so service tax/VAT obligations typically arise on or after issuance of the invoice, although a forum respondent advised raising an invoice within thirty days. en-us Tue, 25 Sep 2012 09:42:18 +0530 Thu, 23 Jan 2025 15:57:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=4751 Costs incurred on ongoing contracts may be accrued as unbilled revenue and included in turnover under the accrual/matching principle, even if invoicing is deferred by contract terms. Tax liability for services or works contracts is generally triggered by invoicing or other statutory tax points, so service tax/VAT obligations typically arise on or after issuance of the invoice, although a forum respondent advised raising an invoice within thirty days. Discussion-Forum Service Tax Tue, 25 Sep 2012 09:42:18 +0530 https://www.taxtmi.com/forum/issue?id=4751