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Clarification on Point of Taxtion Rules, -regarding. - Service Tax - 06/ST/2011Extract OFFICE OF THE COMMISSIONER OF SERVICE TAX 17-B, IAEA House, Indraprastha Estate, NEW DELHI 11002 Trade Notice No. 06/ST/2011 Dated 18/04/2012 Subject: Clarification on Point of Taxtion Rules, -regarding. 1. Notification No. 04/2012-Service Tax dated the 17 th March 2012 has amended the Point of Taxation Rules 2011 w.e.f. 1 st April 2012, inter-alia, amending Rule 7 which applied to individuals or proprietary firms or partnership firms providing taxable services referred to in sub-clauses (g), (P), (s), (t), (u), (za), and (zzzzm) of clause (105) of section 65 of the Finance Act, 1994. Rule 7 determined the point of taxation in such cases as the dated of receipt of payment. The provisions have been amended both in the Point of Taxation Rules 2011 and the Service Tax Rules 1994 such that from 1 st April 212 the payment of tax shall be allowed to be deferred till the receipt of payment upto a value of Rs. 50 lakhs of taxable services. The facility gas been granted to all individuals and partnership firms. Irrespective of the description of service, whose turnover of taxable service is fifty lakhs rupees or less in the previous financial year. 2. Representations have been received, in respect of the specified eight services, requesting clarification on determination of Point of Taxation in respect of invoices issued on or before 31 st March 2012 where the payment has not been received before 1 st April 2012. 3. The issue has been examined. For invoices issued on or before 31 st March 2012, the point of taxation shall continue to be governed by the Rule 7 as it stands till the said date. Thus in respect of invoices issued on or before 31 st March 2012 the point of taxation shall be the dated payment. All the trade associations are requested to give wide publicity to the contents of this Trade Notice amongst their member Constitutes. Encls. As above (GAUTAM BHATTACHARYA) COMMISSIONER OF SERVICE TAX C. NO. IV (16)Hq/Trade Notice/52/Tech//ST/2012
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