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Point of taxation

Service Tax (Legacy) 680 views 1 replies

pragadeeshkanna

searching

281 Points Posted on 24 October 2011

dear friends, In service tax, payemnt basis would have been followed, when POT is introduced is it neccessary to pay all amount standing in the account service tax payable (i mean invoiced and the amount yet to be collected) or to tahat extend payment basis can be followed?

Replies (1)

Madhukar N Hiregange

Chartered Accountant

39039 Points Posted on 24 October 2011

As on 30 June 2011 [ if opted for 31st marhc then that date], all debtors outstanding as and when recived actually wouldbe liable.

For service provided later the new rules would apply.

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