14 August 2011
Option has been given either to pay on due basis or receipt basis. Pl see rule 9 which is reproduced below:-
“9. Transitional Provisions.- Nothing contained in this sub-rule shall be applicable,- where the provision of service is completed; or where invoices are issued prior to the date on which these rules come into force.
Provided that services for which provision is completed on or before 30th day of June, 2011 or where the invoices are issued upto the 30th day of June, 2011, the point of taxation shall, at the option of the taxpayer, be the date on which the payment is received or made as the case may be.”.
15 August 2011
Point of Taxation Rule 2011- Rule 9 is reproduced below:-
“9. Transitional Provisions.- Nothing contained in this sub-rule shall be applicable,- where the provision of service is completed; or where invoices are issued prior to the date on which these rules come into force.
Provided that services for which provision is completed on or before 30th day of June, 2011 or where the invoices are issued upto the 30th day of June, 2011, the point of taxation shall, at the option of the taxpayer, be the date on which the payment is received or made as the case may be.”.
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