Difference between revisions of "6. Can I mixed the sales tax and service tax in single invoice?"

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<big>'''Issue:'''</big>
 
<big>'''Issue:'''</big>
 
:Can I mixed the sales and service tax code in single document?
 
:Can I mixed the sales and service tax code in single document?
 
 
<br />
 
<br />
 
  
 
<big>'''Solution:'''</big>  
 
<big>'''Solution:'''</big>  
:1. Customs officer has recommended the company should issue the invoice, debit note and credit note for sales and service invoice separately.  
+
:1. Customs officer has recommended the company should raise the invoice, debit note and credit note separately for sales and service invoice .  
 
:2. Indicate the sales and service tax registration no on the invoice letter head separately as well.  
 
:2. Indicate the sales and service tax registration no on the invoice letter head separately as well.  
 
:3. This is to ease the Customs audit operation purpose.
 
:3. This is to ease the Customs audit operation purpose.
 +
<br />
  
'''Note:'''
 
 
:Sales tax and service tax having different accounting basis as explained below.  
 
:Sales tax and service tax having different accounting basis as explained below.  
 
:'''a) SALES TAX'''
 
:'''a) SALES TAX'''

Latest revision as of 08:25, 4 September 2019

Issue:

Can I mixed the sales and service tax code in single document?


Solution:

1. Customs officer has recommended the company should raise the invoice, debit note and credit note separately for sales and service invoice .
2. Indicate the sales and service tax registration no on the invoice letter head separately as well.
3. This is to ease the Customs audit operation purpose.


Sales tax and service tax having different accounting basis as explained below.
a) SALES TAX
  • Billing / accrual basis
  • Sales Tax required to be accounted at the time when the goods are sold, disposed or first used
b) SERVICE TAX
  • Payment basis
  • Service Tax required to be accounted at the time when the payments is received.
  • On the day following period of twelve month when any whole or part of the payment is not received from the date of the invoice for the taxable service provided