Point of taxation for part payments under rcm

This query is : Resolved

Nagaraja S Hegde (Querist)
Follow

08 July 2015 HI,One of our clients received the invoice in the month of may dated 2-5-2015 from transportation agency (GTA) for Rs 145600.Our Client made the payment of Rs 100000 on 26-5-2015,and remaining amount of Rs 45600 ON 6-6-2015.My query is, what rate of Service Tax is applicable??is it 12.36% or 14%, or 12.36% on 100000 and 14% on 45600?????

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

08 July 2015 12.36% applicable on entire value.

Message likes : 1 times

Nagaraja S Hegde

Nagaraja S Hegde (Querist)
Follow

08 July 2015 Thank U sir,But can i get the reason why 12.36% should be charged,because POT for RCM services is the date of payment made if the payment made within 3 months..

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

08 July 2015 The point of taxation(rule 4) for change in rate of service tax, as invoice has been issued and service rendered before 31st May old rate only applicable.

Nagaraja S Hegde

Nagaraja S Hegde (Querist)
Follow

08 July 2015 But Rule 7 has overriding effect on Rule 4 no sir?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

08 July 2015 Rule 7 will not override Rule 4.

Message likes : 1 times

Nagaraja S Hegde

Nagaraja S Hegde (Querist)
Follow

08 July 2015 Thanks a lot sir :)

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Shantaveeresh Manur

AJAY Kumar Agrawal

RATI MALU

ASHOK KUMAR TEKURU

RISHI LATTA

Subscribe Now

Point of taxation for part payments under rcm

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANT

GST CONSULTANCY

CA Final

Manager- Finance and Compliance

Senior Executive