Partial reverse charge mechanism
This query is : Resolved
28 October 2012
Dear Sir, anyone can please clarify the applicability of service tax rate & partial reverse charge mechanism on security & manpower supply for the FY 2011-12?
Regards
Atul Gaur
Regards
Atul Gaur
28 October 2012
Any services if you have to paid service tax on invoice basis after that payment will not be received in three month then you can reverse the credit under rule 6(3) of service tax rule.
28 October 2012
Service Tax rate for F.Y. 2011-12 is 10.30%.
As per point of taxation rules, Service tax becomes due when Invoice is issued or payment is received whichever is earlier.
Also, Invoice should have been raised within 30 days of service completion.
The partial Reverse charge mechanism came into effect from 01/07/2012. For services rendered in F.Y. 2011-12, the point of taxation can never be on or after 01/07/2012.
So, the partial reverse charge is not applicable in your case.
As per point of taxation rules, Service tax becomes due when Invoice is issued or payment is received whichever is earlier.
Also, Invoice should have been raised within 30 days of service completion.
The partial Reverse charge mechanism came into effect from 01/07/2012. For services rendered in F.Y. 2011-12, the point of taxation can never be on or after 01/07/2012.
So, the partial reverse charge is not applicable in your case.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
