Good news for CA's(service tax)..

Notifications 2039 views 5 replies

Ritesh Jain

CA CS in Job

675 Points Posted on 01 April 2011

Dear all,

Here comes a good news for practicing CA' s and other specified service provider.

Ministry of Finance has today issued the above Notification amending Point of taxation Rules, 2011. Rules 7 has been substituted by a new Rule whereby, point of taxation in respect specified service providers which includes Chartered Accountants (individuals or proprietary firms or partnership firms) will be the date on which payment is received. This Rule has been inserted as per the representations made by the Institute of Chartered Accountants of India.

Source:

Service tax notification (RJ)

Regards,

Replies (5)

Ritesh Jain

CA CS in Job

675 Points Posted on 01 April 2011

Is there really any reason to be happy about this day...may be you have got some genuine reason...!!! :D

CA Saiyum khan

Practicing CA

690 Points Posted on 01 April 2011

Originally posted by : CA. Ritesh Jain (CS in makin)
	Dear all, Here comes a good news for practicing CA' s and other specified service provider. Ministry of Finance has today issued the above Notification amending Point of taxation Rules, 2011. Rules 7 has been substituted by a new Rule whereby, point of taxation in respect specified service providers which includes Chartered Accountants (individuals or proprietary firms or partnership firms) will be the date on which payment is received. This Rule has been inserted as per the representations made by the Institute of Chartered Accountants of India. Source: Service tax notification (RJ) Regards, RJ

This benefit has also been extended to Cost Accountants, Company Secretaries, Architects, Interior Decorators and Advocates.

Tehsinkhan Pathan

CA CMA DISA(ICAI) B.COM

3956 Points Posted on 01 April 2011

Agree with CA Saiyum khan...........

CA Anshu Agarwal

B€ @LW@¥$ ]-[@Pp¥

1832 Points Posted on 01 April 2011

in case of services, in respect of which point of taxation is billing or providing services, is there any ruling for non recovery of the amount billed?

Ritesh Jain

CA CS in Job

675 Points Posted on 02 April 2011

Originally posted by : CA Anshu Agarwal
	in case of services, in respect of which point of taxation is billing or providing services, is there any ruling for non recovery of the amount billed?

Yes as per the latest amendment you can take the credit given amount is refunded or invoice renogiated follwed by credit not.