Point of taxation for part payments under rcm
This query is : Resolved
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?????
08 July 2015
12.36% applicable on entire value.
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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..
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.
08 July 2015
But Rule 7 has overriding effect on Rule 4 no sir?
08 July 2015
Rule 7 will not override Rule 4.
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08 July 2015
Thanks a lot sir :)
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