Point of taxation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2012 Our firm deals with construction services.we had raised the invoice on 10/10/2011 but due to verification delay for the service provided.Hence,we received the payment only on June'12. Do service tax should be paid considering the invoice raised or the point of the payment received. Kindly someone suggest a way and reply with the ST Notification dated.

Suresh Mittal

Suresh Mittal (Expert)
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25 July 2012 In my opinion, as per Rule 3 of POT Rules,2011, the POT is the earlier of date of invoice or date of payment,if invoice is raised as per Rule4A of STRules,1994. SO in your case the POT is the date of invoice.