Point of taxation
This query is : Resolved
13 August 2011
What is to be done on the bills have been issued prior to 01/07/2011. Do we have to pay tax on them on receipt basis?
14 August 2011
If u have recd them after july 1st .Be safe & poay
14 August 2011
Option has been given either to pay on due basis or receipt basis.
Pl see rule 9 which is reproduced below:-
“9. Transitional Provisions.- Nothing contained in this sub-rule shall be applicable,-
where the provision of service is completed; or
where invoices are issued
prior to the date on which these rules come into force.
Provided that services for which provision is completed on or before 30th day of June, 2011 or where the invoices are issued upto the 30th day of June, 2011, the point of taxation shall, at the option of the taxpayer, be the date on which the payment is received or made as the case may be.”.
Pl see rule 9 which is reproduced below:-
“9. Transitional Provisions.- Nothing contained in this sub-rule shall be applicable,-
where the provision of service is completed; or
where invoices are issued
prior to the date on which these rules come into force.
Provided that services for which provision is completed on or before 30th day of June, 2011 or where the invoices are issued upto the 30th day of June, 2011, the point of taxation shall, at the option of the taxpayer, be the date on which the payment is received or made as the case may be.”.
14 August 2011
I agree with Mr. Chakarpani
15 August 2011
Point of Taxation Rule 2011- Rule 9 is reproduced below:-
“9. Transitional Provisions.- Nothing contained in this sub-rule shall be applicable,-
where the provision of service is completed; or
where invoices are issued
prior to the date on which these rules come into force.
Provided that services for which provision is completed on or before 30th day of June, 2011 or where the invoices are issued upto the 30th day of June, 2011, the point of taxation shall, at the option of the taxpayer, be the date on which the payment is received or made as the case may be.”.
Point of Taxation Rule 2011- Rule 9 is reproduced below:-
“9. Transitional Provisions.- Nothing contained in this sub-rule shall be applicable,-
where the provision of service is completed; or
where invoices are issued
prior to the date on which these rules come into force.
Provided that services for which provision is completed on or before 30th day of June, 2011 or where the invoices are issued upto the 30th day of June, 2011, the point of taxation shall, at the option of the taxpayer, be the date on which the payment is received or made as the case may be.”.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- TDS on TRUST
- Regarding Applicability of Tax Audit u/s 44AB
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
