Non-Applicability of POT Rules, 2011 and Consequential Amendments for November 2011 Examinations

Paper 8: Indirect Tax Laws (Final Course)

Point of Taxation (POT) Rules, 2011 have been notified vide  Notification No. 18/2011 ST dated 01.03.2011.  These rules have become effective from 01.04.2011 and further amendments have been made in these rules  vide  Notification No. 25/2011 ST dated 31.03.2011  and Notification No. 28/2011 ST dated 01.04.2011. 

Following consequential amendments have been made to facilitate the implementation of POT Rules, 2011:-

(i) Sub-rule (7) of rule 4 of the CENVAT Credit Rules, 2004 has been amended  vide  Notification No. 13/2011 CE (NT) dated 31.03.2011

(ii) Third proviso to rule 4A of the Service Tax Rules, 1994 has been amended vide Notification No. 26/2011-ST dated 31.03.2011  

(iii) Rule  5B  has been inserted  in  the Service Tax Rules, 1994  vide  Notification No. 03/2011-ST dated 01.03.2011

(iv) Sub-rules (1) and (3) of rule 6 of the Service Tax Rules, 1994 have been amended vide Notification No. 03/2011-ST dated 01.03.2011 and Notification No. 26/2011-ST dated 31.03.2011

Students may note that the Examination Committee of the ICAI has decided that Point of Taxation (POT) Rules, 2011 would not be applicable in Paper 8: Indirect Tax Laws for November 2011 examinations.   Consequently, the ensuing  amendments made in the CENVAT Credit Rules, 2004 and the Service Tax Rules, 1994 (mentioned above) would also not be applicable for November 2011 examinations.

All the amendments made by  significant notifications/circulars issued from 01.05.2010 to 30.04.2011 which are relevant for November 2011 examinations have been given as an Appendix to the Revision Test Paper (RTP) of the said examination.  The RTP has also been hosted on the BOS Knowledge Portal of the Institute’s website. 

Paper 5: Taxation (PCC) and Paper 4: Taxation (IPCC)

Point of Taxation (POT) Rules, 2011 have been notified vide  Notification No. 18/2011 ST dated 01.03.2011.  These rules have become effective from 01.04.2011 and further amendments have been made in these rules vide  Notification No. 25/2011 ST dated 31.03.2011  and Notification No. 28/2011 ST dated 01.04.2011.  Following consequential amendments have been made  in the Service Tax Rules, 1994 to  facilitate the implementation of POT Rules, 2011:-

(i) Rule  5B  has been inserted  in  the Service Tax Rules, 1994  vide  Notification No. 03/2011-ST dated 01.03.2011

(ii) Sub-rules (1) and (3) of rule 6 have been amended vide Notification No. 03/2011-ST dated 01.03.2011 and Notification No. 26/2011-ST dated 31.03.2011

Students may note that the Examination Committee of the ICAI has decided that Point of Taxation (POT)  Rules, 2011 would not be applicable in Part-II Service Tax and VAT of Paper 5: Taxation (PCC) and Paper 4: Taxation (IPCC) for November 2011 examinations.  Consequently, the ensuing amendments made in the Service Tax Rules, 1994 (mentioned above) would also not be applicable for  November 2011 examinations.

All the amendments made by significant notifications/circulars issued from 01.05.2010 to 30.04.2011 which are relevant for November 2011 examinations have been given as an Appendix to the Revision Test Paper (RTP) of thesaid examination.  The RTP has also been hosted on the BOS Knowledge Portal of the Institute’s website.