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Point of taxation
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Since, during March 2011 service tax liability was based on realization basis, the services rendered in March 2011 would not have taxed in that month. Further when the payment is realised in the month of July 2011, it is taxable in that month itself.
Kindly correct me, if i am wrong.
| Originally posted by : Divya K S | ||
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Since, during March 2011 service tax liability was based on realization basis, the services rendered in March 2011 would not have taxed in that month. Further when the payment is realised in the month of July 2011, it is taxable in that month itself. Kindly correct me, if i am wrong. |
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Are you sure about this... Becoz in this case the invoice is issued after POT 2011 came into force.
No, Point of Taxation will not be levied in this case......... Divya K S is correct.....
Thanks friends i got my answer....
Divya u r correct
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