Amendment in the Point of Taxation Rules, 2011.

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....be called the Point of Taxation (Amendment) Rules, 2011. (2) They shall come into force on the 1^st day of April, 2011. 2. In the Point of Taxation Rules, 2011 (hereinafter referred to as the "said rules"), for rule 3, the following rule shall be substituted, namely:- "3. Determination of point of taxation.- For the purposes of these rules, unless otherwise provided, 'point of taxation' shall be,- (a) the time when the invoice for the service provided or to be provided is issued: Provided that where the invoice is not issued within fourteen days of the completion of the provision of the service, the point of taxation shall be date of such completion. (b) in a case, where the person providing the service, receives a payment....

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....ed that where the invoice is not issued within fourteen days of the completion of the provision of the service, the point of taxation shall be date of such completion. (b)  in a case, where the person providing the service, receives a payment before the time specified in clause (a), the time, when he receives such payment, to the extent of such payment. Explanation 1. - For the purpose of this rule, where the provision of the whole or part of the service is determined periodically on the completion of an event in terms of a contract, which requires the service receiver to make any payment to service provider, the date of completion of each such event as specified in the contract shall be deemed to be the date of completion of pro....