Service tax is leviable on due basis or receipt basis????


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Querist : Anonymous

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Querist : Anonymous (Querist)
27 October 2012 as above question I also want to know about effectiv dates from where such changes made????

In addition to that what is point of taxation ??

27 October 2012 It is date of invoice or receipt basis whichever is earlier.

Effective date 01.07.2012 , Point of Taxation Rules.

27 October 2012 I agree with the expert. All invoices raised before 1.7.2012 shall be treated as per the provisions of old act

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 October 2012 thanks ......

but still i have some doubts ??

as per my knowledge i learnt that service tax was levied on accrual basis w.e.f 1.4.11 . may i right ???

29 October 2012 U r also to some extent right. But though the POT Rules were made effective from 1/4/2012, an option was given to assesses to follow cash basis upto 30/6/2012. Accordingly effectively the accrual basis has been compulsorily applied from 01/07/2012.

Hope this would settle the issue....

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Querist : Anonymous

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30 October 2012 ok thanks.... salim


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