https://www.taxtmi.com/article/detailed?id=1318 Point of taxation now arises at the earlier of invoice issuance, receipt of payment (including advances), or completion of service where no invoice is issued within 14 days; transitional provisions and a limited option to continue payment-on-receipt are provided. Cenvat credit is triggered by receipt of invoice, subject to required reversal if payment remains unpaid beyond a prescribed period, and credit under reverse charge is allowed only on payment. Circular clarifications refine eligibility principles and trading valuation policies. en-us Fri, 10 Jun 2011 22:37:46 +0530 Fri, 10 Jun 2011 22:38:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1318 Point of taxation now arises at the earlier of invoice issuance, receipt of payment (including advances), or completion of service where no invoice is issued within 14 days; transitional provisions and a limited option to continue payment-on-receipt are provided. Cenvat credit is triggered by receipt of invoice, subject to required reversal if payment remains unpaid beyond a prescribed period, and credit under reverse charge is allowed only on payment. Circular clarifications refine eligibility principles and trading valuation policies. Articles Service Tax Fri, 10 Jun 2011 22:37:46 +0530 https://www.taxtmi.com/article/detailed?id=1318