Point of Taxation timing revised: invoice issuance, receipt of payment or advances determine service tax liability with transitional rules. Amendments to the Point of Taxation Rules, 2011 define the point of taxation as the time of invoicing or, if no invoice is issued within fourteen days of completion, the date of completion; payments or advances received before invoicing fix the point of taxation on receipt. Continuous supply rules mirror this approach, with contractual events deemed completion dates. The phrase 'change in effective rate of tax' replaces prior terminology and includes changes in the taxable portion of value. Specified services and persons have payment-based tax points subject to stated exceptions and transitional provisions exclude completed services and pre-existing invoices.
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Point of Taxation timing revised: invoice issuance, receipt of payment or advances determine service tax liability with transitional rules.
Amendments to the Point of Taxation Rules, 2011 define the point of taxation as the time of invoicing or, if no invoice is issued within fourteen days of completion, the date of completion; payments or advances received before invoicing fix the point of taxation on receipt. Continuous supply rules mirror this approach, with contractual events deemed completion dates. The phrase "change in effective rate of tax" replaces prior terminology and includes changes in the taxable portion of value. Specified services and persons have payment-based tax points subject to stated exceptions and transitional provisions exclude completed services and pre-existing invoices.
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