Applicability of Service Tax Changes
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 February 2011
Whether changes made by Finance Act, 2011 in service tax are applicable for May, 2011
BALASUBRAMANYA B N
(Expert)
28 February 2011
No it will not be applicable for may 2011..
Ashok Asthana
(Expert)
01 March 2011
The applicability of changes in service tax will be applicable from the date of passing of Finance bill.
Ashok Asthana
(Expert)
01 March 2011
Mr. Caferoz
How can you say it will not be applicable in May 2011
How can you say it will not be applicable in May 2011
Ashok Asthana
(Expert)
01 March 2011
Point of Taxation Rules, 2011 have been framed vide notification 18/2011-ST and made effective from 01.04.2011. These rules determine the point in time when the services shall be deemed to be provided. The general rule will be that the time of provision of service will be the earliest of the following dates:
i. Date on which service is provided or to be provided
ii. Date of invoice
iii. Date of payment
6.2 Consequential changes have also been made in the Service Tax Rules, 1994 to alter the payment of service tax from receipt of payment to provision of service and also to permit adjustment of tax when service is not finally provided.
Tags: Point of Taxation Rules 2011
i. Date on which service is provided or to be provided
ii. Date of invoice
iii. Date of payment
6.2 Consequential changes have also been made in the Service Tax Rules, 1994 to alter the payment of service tax from receipt of payment to provision of service and also to permit adjustment of tax when service is not finally provided.
Tags: Point of Taxation Rules 2011
Ashok Asthana
(Expert)
01 March 2011
I know. But this is an important change and must be brought to the notice. Most of the provisions of service tax changes will be effective 1-3-2011 and rest will be effective 1-4-2011.
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