TaxTMI 
TaxTMI 
Hello
Under the existing Point of Taxation Rules, 2011, Point of taxation for a CA firm is on receipt basis.
There is a change in effective rate of tax from 10.3% to 12.36%.
As per the proposed amendments and notification no. 4/ 2012 dated 17th March 2012, cash basis is available for assessees having taxable turnover of less than 50 lakhs.
My query is what is the effective rate of tax applicable when
1. service is rendered by the CA before March 31, 2012 and
2.invoice is raised before March 31, 2012 and
3. the payment is received after April 5, 2012
For above purposes, please consider the taxable turnover of CA firm as exceeding 50 lakhs per annum.
Awaiting replies
Point of taxation
29 Mar 2012 
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Point of taxation: invoices issued before the amendment remain payment-based, preserving the original service tax rate despite later payment.
For invoices issued on or before 31 March under the pre-amendment regime, the point of taxation remains the date of receipt of payment; consequently, for specified professional services rendered and invoiced before that cutoff the tax rate in force at the time of supply and invoicing applies, while tax deposit obligations arise on receipt of payment. (AI Summary)
For invoices issued on or before 31 March under the pre-amendment regime, the point of taxation remains the date of receipt of payment; consequently, for specified professional services rendered and invoiced before that cutoff the tax rate in force at the time of supply and invoicing applies, while tax deposit obligations arise on receipt of payment. (AI Summary)