Discussion on service tax ca final - can anyone join now? - Students

Discussion on service tax ca final - can anyone join now?

Page no : 2

Madhavi (CA - FINAL) (1342 Points)
Replied 18 September 2012

ok yogesh can u explain me point by point the point of taxation

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Yogita (Partner) (434 Points)
Replied 18 September 2012

Date for Filing of S T Returns : Rtrns to be filed in Form ST 3 & its Half yearly Immaterial of the category of the assessee. Due dates for Filing of Returns are 25th Oct for Hly Year ended 30th Sept & 25th April for Hlf Year ended 31st March

Jeril Satheesh (PRACTICING CHARTERED ACCOUNTANT) (60 Points)
Replied 18 September 2012

it is clarified that ALL the taxable services (including the thirty two (32) services notified

earlier by the BOS through its announcement dated 14.09.2011) will not be relevant for November 2012

exams.

Yogita (Partner) (434 Points)
Replied 18 September 2012

OK What exactly you need to know in POT Rules 2011

Also Madhavi you dont have to read anything about the 32 services ( See sec 65 ) you will be clear. dont do any services

Madhavi (CA - FINAL) (1342 Points)
Replied 18 September 2012

Point of taxation Rules:

1. The POT was introduced w.e.f 01.04.2011. However, the rules provides for an option to continue receipt based taxation upto 30.06.11.

POT is

a. the time when the invoice for service provided or to be provided is issued. However if invoice is not iseud within 14 days of the completion of the provision of service POT shall be the date of such completion. pl expain this point in detail

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Madhavi (CA - FINAL) (1342 Points)
Replied 18 September 2012

How to remember the POT pl explain point by point for remembering

Yogita (Partner) (434 Points)
Replied 18 September 2012

Hey madhavi check there is an amendment in March 2012, the Provision states that the period of 14 days is amended to 30 days & that too fon non Banking & financial services. where for this type of asseesses the Period for raising of bill is 45 days

Madhavi (CA - FINAL) (1342 Points)
Replied 18 September 2012

i have not seen any ammendment in supplementary.

Yogita (Partner) (434 Points)
Replied 18 September 2012

just check the RTP Nov 2012 Page 131End of the Page & Page 130 Point 2 Amendment to Rule 3

Prashanth (Chartered Accountant) (2322 Points)
Replied 18 September 2012

Hello,

Find attached uummary of IDT case laws of May,2012...It is good

Attached File : 407213 1056964 idt case laws for may 12 good.pdf downloaded: 201 times

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Madhavi (CA - FINAL) (1342 Points)
Replied 18 September 2012

ok i will check but pl tell me essence of POT in your general language

Madhavi (CA - FINAL) (1342 Points)
Replied 18 September 2012

ya i have seen the amendment in RTP thank you

Madhavi (CA - FINAL) (1342 Points)
Replied 18 September 2012

ya taken case laws thank you prasanth

Yogita (Partner) (434 Points)
Replied 18 September 2012

Invoice to be raised in the given time span, if not raised then the date on which service is provided will be deemed as the date when the Tax liability will be established as Payable. & if Bill raised within the scheduled time limit then the date of Invoice will be considered as Date of Providing of Services for arriving the due date of Payment of ST. ( E.g : you provide the services on 18th Sept 2012 & if you raise your Inv within 30 days ie by 17 Oct then your due will be 5 / 6 th Nov if Monthly or 5/6 January 2013 if Qly.) & if you dont make Inv in that 30 days then your liability will get established on 18th Sept 2012 itself & due date for payment will be 5/6 Oct 2012