If Services are rendered in the month of March 2012, however we are raising bill in the Month of April , then at what rate we should charge ST. 10% or 12%.
13 April 2012
As per Rule 4 of Point of Taxation Rules, 2011 in case of change in effective rate of tax, if service is provided before change in rate of tax (i.e. 01.04.2012) then applicalbe rate shall be 10% until and unless both invoice and payment has been made on or after 01.04.2012. In this case invoice is issued in April 2012. Now it depends on time of payment. I understand that payment has not been made upto 31.03.2012. Therefore, applicable rate of tax is 12%
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