Date of payment of advance receipt will be point of taxation in case of change in effective tax rate

Mahindra World City (Jaipur) Ltd. Vs Commissioner (CESTAT Delhi) CESTAT Delhi held that as per rule 4(b)(iii) of the point of Point of Taxation Rules, 2011, in case payment is received before change in effective rate of tax and invoice is issued after change in effective rate of tax, then, point of taxation will be date of payment. Hence, demand set aside on advance receipt. Facts- The appellant, M/s Mahindra World City (Jaipur) Ltd., has entered into Memorandum of Understanding (MOU) – DTA land on 7.3.2012 to lease land to M/s JCB India Ltd. for setting up a new project for manufacture of e...