There is amendment in service tax Point of taxation rules for point of taxability on services provided or to be provided but weather there is any change in the concept that payment of service tax is to be made on receipt of amount charged against services provided or to be provided?
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Point of taxation rules,2011
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With the introduction of POT Rules, the concept of taxability on receipt basis has gone. Precisely the underlying principle of POT is that earliest of invoice date, receipt date, date of completion of service is the point of taxation. Tax is due on 5th day of succeeding month/quarter within which the POT falls.
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