Taxability of services

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CA Harsh Kothari (Querist)
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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.

Amol S Joglekar

Amol S Joglekar (Expert)
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29 November 2012 from 01/04/2012.

CA Harsh Kothari

CA Harsh Kothari (Querist)
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29 November 2012 sir, can you elaborate a bit?

Jayant Bothra

Jayant Bothra (Expert)
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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

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CA Harsh Kothari

CA Harsh Kothari (Querist)
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30 November 2012 Thank You Sir !! :)

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