Taxability of services
This query is : Resolved
CA Harsh Kothari
(Querist)
29 November 2012
The negative list came in force from 1/07/2012. So if a person is providing services from 1/4/2012 then, what amt of services will be taxable?
a) the total of services from 1/4/12 or
b) the services served after 1/7/2012?
Thanks in advance.
a) the total of services from 1/4/12 or
b) the services served after 1/7/2012?
Thanks in advance.
Amol S Joglekar
(Expert)
29 November 2012
from 01/04/2012.
CA Harsh Kothari
(Querist)
29 November 2012
sir, can you elaborate a bit?
Jayant Bothra
(Expert)
29 November 2012
Dear Harsh,
If the service provided by you has become taxable from 01.07.2012 then Rule 5 of Point of taxation rules, 2011 applies in your case. As per rule 5 of POT, 2011 the tax liability shall be determined as follows:-
i) if the invoice issued and payment made before the service become taxable - NO SERVICE TAX.
ii) if the payment is received before the service is taxable and the invoice is issued within 14 days from the date the service become taxable - NO SERVICE TAX.
iii) In all other case service tax would be leviable.
Regds
CA JAYANT BOTHRA
If the service provided by you has become taxable from 01.07.2012 then Rule 5 of Point of taxation rules, 2011 applies in your case. As per rule 5 of POT, 2011 the tax liability shall be determined as follows:-
i) if the invoice issued and payment made before the service become taxable - NO SERVICE TAX.
ii) if the payment is received before the service is taxable and the invoice is issued within 14 days from the date the service become taxable - NO SERVICE TAX.
iii) In all other case service tax would be leviable.
Regds
CA JAYANT BOTHRA
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CA Harsh Kothari
(Querist)
30 November 2012
Thank You Sir !! :)
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