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Point of taxation
dear friends,
In service tax, payemnt basis would have been followed, when POT is introduced is it neccessary to pay all amount standing in the account service tax payable (i mean invoiced and the amount yet to be collected) or to tahat extend payment basis can be followed?
Replies (1)
As on 30 June 2011 [ if opted for 31st marhc then that date], all debtors outstanding as and when recived actually wouldbe liable.
For service provided later the new rules would apply.
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