Service tax new rule for individual

ejaz naiyer (C.A. FINAL) (293 Points)

12 July 2012  


I want to know whether Proprietor Business has to pay service tax on the basis of point of taxation rule or on the receipt basis. My one friend told me that individual is exempt from the new rule. And hence liable to pay tax ( Financial Year 2011-12) on receipt basis only not on invoicing basis. 
Is it correct? please help me.