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...
Point of taxation is determined on the basis of earlier of following events (Rule 3) :- a) The time when the invoice for the service provided or to be provided is issued OR b) Where the person providing the service, receives a payment Provided that the invoice has been issued within 30 (45 in case […]
It is well settled law that levy of tax is one thing and collection thereof is quite different thing. Once the levy is attracted, the collection of tax may be at any different point/stage or event. For example, in case of central excise duty, the levy is on the ‘manufacture or production of goods’ while the collection of duty is postponed till the time of removal of excisable goods.
For the purpose of charging service tax on any service, the incidence of levy is on person rendering of a taxable service which is termed as point of taxation. Usually people have confusion regarding the point in time when a service is deemed to be provided and thereby service tax is to be deposited.
Contrary View to Hon’ble Delhi High Court decision quashing Circular No.154 & 158 with reference to Point of Taxation Rules, 2011. In a recent judgment dated 01-02-2013, the Hon’ble High Court of Delhi, in the case of Delhi Chartered Accountants Society (Regd.) V/s Union of India & Others, C.M.No.9237/2012 (for stay, has quashed Circular No. 154/5/2012 – ST […]
We are delighted to inform you that the Indirect Taxes Committee has come out with an “E-Handbook on Point of Taxation Rules, 2011”. The electronic form of the Handbook increases its portability and allows you to access the same at any time and from any place convenient to you, thereby making it a ready referencer […]
The question before us is what would be the rate of tax where (a) the service is provided by the chartered accountants prior to 01.04.2012; (b) the invoice is issued by the chartered accountants prior to 01.04.2012 but (c) the payment is received after 01.04.2012.
Point of Taxation Rules -Is it determining the taxable event for levy of Service Tax (i.e. service deemed to be provided). RULE 2A – Date of payment.— For the purposes of these rules, date of payment shall be the earlier of the dates on which the payment is entered in the books of accounts or is credited to the bank account of the person liable to pay tax:
I am covering following points in this article- Valuation of service portion in works contract, CENVAT Credit availability in works contract, Point of Taxation in Work Contract Service
CENTRAL Board of Excise and Customs (CBEC) has issued clarification vides Circular No. 158/9/ 2012–ST dated. 8th May, 2012 on the rate of service tax applicable wherein invoices were raised before 1st April 2012 and the payments shall be after 1st April 2012 in case of the 8 specified services provided by individuals or proprietary firms or partnership firms, to which Rule 7 of Point of Taxation Rules 2011 was applicable and services on which tax is paid under reverse charge under section 68(2) of the Finance Act.
Circular No.155/6/ 2012 – ST It has been brought to the attention of the Board that some airlines are collecting differential service tax on tickets issued before 1st April 2012 for journey after 1st April 2012, causing inconvenience to passengers. Representations have also been received in this regard. The position of law in the above respect is clear and is detailed below.
