Service Tax : We have updated the Point of Taxation Rules 2011 as introduced by Notification No. 18/2011-S.T., dated 1-3-2011 with Notification ...
Service Tax : The Point of Taxation Rules, 2011 (in short POT Rules) was introduced w.e.f. 01-04-2011 to define and determine the point of taxat...
Service Tax : Requirement of completion certificate vary from state to state. In case of Mumbai local authority provides for completion certific...
Service Tax : The Point of Taxation Rules, 2011 were notified on March 1, 2011 and have been amended from time to time. As mentioned in my earli...
Excise Duty : Cenvat credit in respect of input to be claimed within six months from the duty paying document with effect from 01.09.2014. [ Not...
Service Tax : The Bank audit could have commenced in March 2012, however the completion of the services would be in April/ May 2012. Since the c...
Service Tax : Ministry of Finance has today issued the above Notification amending Point of taxation Rules, 2011. Rules 7 has been substituted ...
Service Tax : The Point of Taxation rules, which will allow tax authorities to link the payment of service tax to provision of service, raising ...
Service Tax : The finance ministry is in a fix over the proposed implementation of point of taxation rules for service tax from October 1 this y...
Service Tax : The Government of India (“GOI”) has released the draft Point of Taxation (for Services provided or Received in India) Rules, 2...
Service Tax : CESTAT emphasized that Point of Taxation Rules are not applicable when service is provided, and invoice is issued before introduc...
Service Tax : Recently, in Union of India v. Intercontinental Consultants and Technocrats Pvt. Ltd., Hon’ble SC had resolved the existing con...
Service Tax : The question before us is what would be the rate of tax where (a) the service is provided by the chartered accountants prior to 01...
Service Tax : Where there is change in the liability or extent of liability of a person required to pay tax as recipient of service notified und...
Service Tax : Circular No.155/6/ 2012 – ST It has been brought to the attention of the Board that some airlines are collecting differential se...
Service Tax : As you are aware, the Point of Taxation Rules (PTR) were formulated vide Notification No.18/2011-ST dated 01.03.2011. Based on th...
CESTAT emphasized that Point of Taxation Rules are not applicable when service is provided, and invoice is issued before introduction of POT rules.
Recently, in Union of India v. Intercontinental Consultants and Technocrats Pvt. Ltd., Hon’ble SC had resolved the existing controversy regarding whether reimbursement expenses provided by service receiver are to be included in value of taxable service for charging to service tax.
We have updated the Point of Taxation Rules 2011 as introduced by Notification No. 18/2011-S.T., dated 1-3-2011 with Notification issued from time to time and up to the date of this article. List of Notifications issued Including Principal Notification Title Notification No. & Date Date POT for services provided by Govt or local authority to […]
Where there is change in the liability or extent of liability of a person required to pay tax as recipient of service notified under sub-section (2) of section 68 of the Act, in case service has been provided and the invoice issued before the date of such change, but payment has not been made as on such date, the point of taxation shall be the date of issuance of invoice.
The Point of Taxation Rules, 2011 (in short POT Rules) was introduced w.e.f. 01-04-2011 to define and determine the point of taxation (in short POT) i.e. point in time when a service shall be deemed to have been provided. The twin objectives was to bring certainty regarding due date for payment of service tax (on accrual basis) and to determine the applicable rate of service tax as the one prevailing on the date of POT. While issuing the draft rules, the Central Government stated as under:
Requirement of completion certificate vary from state to state. In case of Mumbai local authority provides for completion certificate after issue of Occupation Certificate. Many times Occupation Certificate and Completion Certificate is used interchangeably.
The Point of Taxation Rules, 2011 were notified on March 1, 2011 and have been amended from time to time. As mentioned in my earlier Article, service tax is one of the most important sources of revenue for the Central Government and therefore the legislators are trying to bring more and more persons under the service tax net. The introduction of Negative List Regime w.e.f. 01.07.2012 is an example of this.
Cenvat credit in respect of input to be claimed within six months from the duty paying document with effect from 01.09.2014. [ Notification no. 21/2014- Central Excise dated 11.07.2014 ]- insertion of third proviso to rule 4(1).
It has been In the discussion /article published in Tax-Guru giving rise a conflict In section-67A and POT Rule-2011.Both are considered a bone of contention to determine Service tax liability while Service tax rate are changed.
As there is increase in the rate of service it has great impact in the transition from 12.36% to 14% to the provider service as well as recipient of service. Though, there are explicit provisions under Rule 4 of POT rules that if the Invoice has been raised or payment is received in respect of service provided or agreed to be provided before the change in the rate of service tax the old rate of service tax will be applicable, however, cases of service tax payable by recipient of service, Rule 7 of POT Rules applies which provides that if the payment of said bill is made after change in the effective rate of service, the service tax will be payable by new Rate of service tax.
