18 September 2012
Give answer only if you are 100% sure Effective rate of ST.
service provided 28/03/2012 invoice issued 30/03/2012 payment made 05/04/2012
A.Effective rate of ST .....(reverse charge) point of taxation ../../..(reverse charge) B.Effective rate of ST .....(normally) point of taxation ../../..(normally)
18 September 2012
1) A. Effective rate in case of normal provisions would be 10.30% as both, provision of service and invoice has been done before 01/04/2012.
B. If it is under the reverse charge then rule 7 of point of taxation shall apply and rate of service tax will be 12.36% (payment basis)
2)The payment shall be made in the month of may before 05/05/2012
18 September 2012
But in question no.2 D point point of taxation should be the date:earlier of receipt of payment or issue of invoice (if issued with in 30 days). Therefore due date should be 05/04 insted of 05/05 as payment received is on 28/03/2012.am i right?
18 September 2012
if the services are rendered and payment is also made before 01/04/2012 then point of taxation will be in the month of March and due date will be 05/04/2012
CAclubindia
