Reverse charge mechanism
This query is : Resolved
yateenvyas
(Querist)
16 July 2012
What will be the point of taxation in new reverse charge mechanism services like manower supply if invoice date is before 30 june an payment in month of july
IF servcie provider is under threshold limit of 10 lakh then service provicder have to fulfill his liability to pay tax or not.
IF servcie provider is under threshold limit of 10 lakh then service provicder have to fulfill his liability to pay tax or not.
RENGARAJ R.K
(Expert)
16 July 2012
Service provider need not pay service tax under reverse charge if he is under threshold limit, but service receiver has to pay his share of 75%. Regarding point of taxation rules, if the payment is received/paid only in July 12, even june dated invoices have to be paid in July. Under reverse charge, the receiver can avail cenvat benefit based on the payment challan.
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