Amends Point of Taxation Rules, 2011

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....f April, 2012. 2. In the Point of Taxation Rules, 2011 (hereinafter referred to as the said rules), in rule 2, -- (a) after clause (b), the following clause shall be inserted, namely :-- (ba) "change in effective rate of tax" shall include a change in the portion of value on which tax is payable in terms of a notification issued in the Official Gazette under the provisions of the Act, or rules made thereunder; (b) in clause (c), for the words "or to be provided continuously, under a contract, for a period exceeding three months," , the words "or to be provided continuously or on recurrent basis, under a contract, for a period exceeding three months with the obligation for payment periodically or from time to time," shall be substituted.....

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....poses of clauses (a) and (b), -- (i) in case of continuous supply of service 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 receiver of service 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 provision of service; (ii) wherever the provider of taxable service receives a payment up to rupees one thousand in excess of the amount indicated in the invoice, the point of taxation to the extent of such excess amount, at the option of the provider of taxable service, shall be determined in accordance with the provisions of claus....