Financials for India - EBS (MOSC)

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Reverse Charge Service Tax on Prepayment

edited Nov 18, 2013 10:59PM in Financials for India - EBS (MOSC) 1 commentAnswered
Hi,

We are on 12.1.3 version and have come across a business scenario in which client has entered into an agreement for professional services, and wants to pay advance to the Consultant.

AS per provisions of service tax rules, service tax is chargeable on such payment also. They want to apply reverse charge service tax on prepayment. However when i checked on Invoice workbench, in IL taxes

the field is ready only and not able to apply the tax on prepayment.

Is there any way i can apply service tax on prepayment

Regards

tanuja

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