In case of Recepient of Service under GTA, How point of taxation will calculate? At the time of Service received or at the time of payment of freight to goods transport agency..???
Please Reply soon, its urgent!!!
Thanks in advance...
SANJAY (CHARTERED ACCOUNTANTS) (938 Points)
10 August 2011In case of Recepient of Service under GTA, How point of taxation will calculate? At the time of Service received or at the time of payment of freight to goods transport agency..???
Please Reply soon, its urgent!!!
Thanks in advance...
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 10 August 2011
For GTA service, point of taxation is date of payment. But if payment of bills is not made within 6 months then general rule applies. ie. date of invoice or date of payment whichever is earlier.
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