Point of taxation rules
This query is : Resolved
Pallavi .S
(Querist)
06 January 2014
hi sir,
can u explain about point of taxation rules.
can u explain about point of taxation rules.
CA Hardik Bunha
(Expert)
06 January 2014
point of taxation rule means service tax will be liable from place where the service provide/ received.
Rule 8 and Rule 14 override other rules.
Rule 8 and Rule 14 override other rules.
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Suresh Ramaswamy
(Expert)
06 January 2014
Point of taxation Rules clarify at what point of time the service provider / receiver is liable for paying the Service Tax. As per the current Rules in force, the Service Provider is liable to pay service tax when the following events occur:
(a)Date of Rendering of Service
(b)Date of issuing Invoice. The invoice should be issued within 30 days of completion of service or else the date of rendering service will apply.
(c) Receipt of money, whether in settlement of the bill or as advance
WHICHEVER IS THE EARLIEST.
In case of Reverse Charges, the service recipient becomes liable to pay the service tax on making payment to the Service Provider.
(a)Date of Rendering of Service
(b)Date of issuing Invoice. The invoice should be issued within 30 days of completion of service or else the date of rendering service will apply.
(c) Receipt of money, whether in settlement of the bill or as advance
WHICHEVER IS THE EARLIEST.
In case of Reverse Charges, the service recipient becomes liable to pay the service tax on making payment to the Service Provider.
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