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point of taxation - changes made in last budget

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04 June 2011 The new rule is applicable to GTA or not . I read somewhere that the new rule is not applicable to GTA( ST can be paid on pay basis ) if pay made to transporters whithin 6 M from invoice date and st paid accordingly on pay basis .

The new rule of point of taxation of service tax ( on accrual basis) will be applicable from which date ? i come to know that the same must be implemented from 01-07-11 ( there is a option to start to make payment as per new rule from 1-4-11 or 01-07-11 ), the same is correct?if yes, it means that pay of service tax of invoices accounted in July -11 should be paid on or before 5th Aug and ST on bills accounted upto june -11 should be paid on payment basis till we make all bills o/s as on 30-6-11 . Please clarify it
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CA Sumat Singhal

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CA Sumat Singhal (Expert)
05 June 2011 Presently point of taxation regarding service tax has been deferred......and till has not been specified.....
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