Delhi, , India
Taxation, Team Work, Financial Accounting
0 टिप्पणी करें | 27 लोगो ने देखा है | 02 जून 15  | Yatender Singh Rawat
Point of Taxation Rule for New Service Tax Rate.
As We know that New Service Tax Rate is implemented w.e.f 1st of June,2015. So In this blog I will discussed about the Point of Taxation Rules, 2011. Point of Taxation Rules, 2011 Point of Taxation Rules, 2011 were brought into effect from April 2011 to ascertain the point of taxation POT i.e. point of time when a service is deemed to have completed. The intendment of the Rules is to appropriately define the taxable event i.e. lsquoPoint of Taxationrsquo in a transaction relating to taxable service, so that the liability for payment of service tax can be found out with reference to such taxable event. Chiefly, the Point of Taxation Rules provide different points of taxation with reference to the taxable event of provision of service as discussed below ndash i Point of Taxation as a general rule ii Point of Taxation in case of specified services iii Point of Taxation in case of specified class of persons iv Point of Taxation in case of specified events POT in case of change in the rate of service tax Rule 4 The event of change in rate of service tax includes the event of change in rate or change in the value of taxable service due to some exemption or rebate or other notification issued by the Government. Rule 4 of the POT Rules prescribes that in case of change in the effective rate of tax, POT shall be determined as under When service is provided before the change of rate, and ndash Both invoice issued and payment received after change of rate ndash POT would occur after change of rate at the earlier of the two dates of invoice and payment ndash Invoice issued before change of rate and payment received after change of rate ndash POT would be before change of rate, i.e. date of invoice ndash Payment received before change of rate and invoice issued after change of rate ndash POT would be before change of rate, i.e. date of rect. of payment When service is provided after the change of rate, and ndash Both invoice issued and payment received before change of rate ndash POT would occur before change of rate at the earlier of the two dates of invoice and payment ndash Invoice issued after change of rate and payment received before change of rate ndash POT would be after change of rate, i.e. date of invoice ndash Payment received after change of rate and invoice issued before change of rate ndash POT would be after change of rate, i.e. date of rect. of payment Table illustrating the above Rule 1. If service is provided before the date of change in rate. a Date of provision of service DPOS bDate of Invoice DOI c Date of receipt of payment DROP d Point of taxation POT and eapplicable rate ROT DPOS DOI DROP POT ROT May 2015 1st July 2015 1st August 2015 1st July 2015 ndash 14 May 2015 1st August 2015 1st July 2015 1st July 2015 ndash 14 May 2015 30th June 2015 15th July 2015 30th June 2015 ndash 12.36 May 2015 15th July 2015 30th June 2015 30th June 2015 ndash 12.36 2. If service is provided after the date of change in effective rate. DPOS DOI DROP POT ROT July 2015 30th June 2015 1st August 2015 1st August 2015 ndash 14 July 2015 1st May 2015 30th June 2015 1st May 2015 ndash 12.36 July 2015 30th June 2015 1st May 2015 1st May 2015 ndash 12.36 July 2015 15th July 2015 30th June 2015 15th July 2015 ndash 14

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