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of <h1>Clarifications on Point of Taxation Rules: Impact of 2012 Budget Changes, Service Tax Rate Increase, and Rule 2A Application.</h1> The circular provides clarifications on the Point of Taxation Rules following changes introduced in the 2012 Budget, including the service tax rate increase from 10% to 12% effective from July 1, 2012. It addresses the point of taxation and applicable rates for continuous supply of services, the application of revised Rule 2A for ongoing works contracts, and the partial reverse charge provisions. It specifies that the point of taxation for services provided before March 31, 2012, remains unaffected by subsequent changes. It also explains how changes in the effective rate of tax impact works contracts and clarifies the applicability of partial reverse charge provisions.
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