Service tax - point of taxation - taxable event
This query is : Resolved
27 November 2014
Hi all,
Please advise which date is taxable event for service tax :
Completion of Service: 18/Aug/2014
Invoice Date: 13/Oct/2014
Payment received :24/Nov/2014
Thanking in anticipation
Ramesh
Please advise which date is taxable event for service tax :
Completion of Service: 18/Aug/2014
Invoice Date: 13/Oct/2014
Payment received :24/Nov/2014
Thanking in anticipation
Ramesh
27 November 2014
As per Rule 3 of Point of Taxation Rule
POT of Taxation will be
1) Date of Invoice, if issued with time i.e. 30 days from the date of completion services
2) Date of Completion of services, if not issue within time
3) Date of Payment
Which ever is earliest
In your case POT will be Date of Invoice 13th October 2014
POT of Taxation will be
1) Date of Invoice, if issued with time i.e. 30 days from the date of completion services
2) Date of Completion of services, if not issue within time
3) Date of Payment
Which ever is earliest
In your case POT will be Date of Invoice 13th October 2014
27 November 2014
Sir,
Thanks for reply.
However, need one clarification as rules mentioned and conclusion given seems to be contrary. In the given case, option 2 is applicable as invoice is not issued within 30 days from the the date of completion of services. hope you are getting me and will revert.
Rgds,
Ramesh
Thanks for reply.
However, need one clarification as rules mentioned and conclusion given seems to be contrary. In the given case, option 2 is applicable as invoice is not issued within 30 days from the the date of completion of services. hope you are getting me and will revert.
Rgds,
Ramesh
27 November 2014
You are correct Invoice is not issued within time limit, therefore point of taxation will be 18th August 2014
You are correct Invoice is not issued within time limit, therefore point of taxation will be 18th August 2014
28 November 2014
Thanks a lot sir for your prompt response.
Rgds,
Ramesh
Rgds,
Ramesh
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?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- Confusion around Form 26QB fields
- 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?
- Query for dubts
Trending Online Classes
CAclubindia
