Problem in rule 2a with rule 7 of pot rules
This query is : Resolved
25 March 2015
rule 2A says that date of payment shall be earlier of entry in books or the dates on which the payment is credited to books of account..
In 100% RCM case service receiver is liable to pay tax. But he will not credit the amount in his bank account.
Now how will the date of payment be determined??
25 March 2015
In case of Reverse charge, the liability is always on payment basis...
You are not liable for service tax unless you make the payment to the party. However, if you do not make the payment within 6 months from the date of invoice then the date of invoice will be the POT
You are not liable for service tax unless you make the payment to the party. However, if you do not make the payment within 6 months from the date of invoice then the date of invoice will be the POT
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