Sbc

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 December 2015 Period of Service- Oct.2015

Date of invoice - 18-11-2015

Date of payment - Dec.15

Whether SBC is applicable

CA CS Sweta Solanki

CA CS Sweta Solanki (Expert)
Follow

17 December 2015 Rule 5 of Point of Taxation Rules, 2011 is applicable for levy of SBC which is as follows.

3.1 The Rule 5 of Point of Taxation Rules, 2011 determines payment of tax in case of new services and is quoted as below:

“5 Payment of tax in case of new services: Where a service is taxed for the first time, then-

(a) no tax shall be payable to the extent the invoice has been issued and the payment received against such invoice before such service became taxable;

(b) no tax shall be payable if the payment has been received before the service becomes taxable and invoice has been issued within fourteen days of the date when the service is taxed for the first time.”

In other words, payment should have been received before levy of SBC i.e. 15-11-2015.

So, in your case SBC will be applicable.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
Follow

17 December 2015 date of Bill is important for Calculating Service tax . SBC is applicable if you bill on or after 15.01.2015 0.5% on Service. Refer notification ST 21 & ST 22 -2015

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

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

SHYAM SUNDER GULATI

Shubham Jain

Aakash Kumar

Tia Blair

yadagiri

Subscribe Now

Sbc

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Article Assistant

GST CONSULTANT

CA Final

Manager- Finance and Compliance

GST CONSULTANCY