As per proviso to Rule 2A of Point of Taxation Rules, 2011 Date of Payment shall be the date of credit in the bank account if the following cummulative conditions are satified :
- There is change in effective rate of tax or when a service is taxed for the first time during the period between such entry in books of accounts and its credit in the bank account.
- The credit in the bank account is after four working days from the date when there is change in effective rate of tax or a service is taxed for the first time;
- The payment is made by way of an instrument which is credited to a bank account.
Concl. (1) As per the above provision in your case date of payment will be the date of credit in bank account if payment is credited after 4 working days & other conditions are satisfied.
Applicability of Service Tax Rate
Provision of Rule 4 of Point of Taxation Rules, 2011 are as follows :
You have not specified when the service was provided so based on the above provision of Rule - 4 you can determine the point of taxation considering date of payment to be 15th June ( As per proviso to Rule 2A).
Now comes Rule 7 of Point of Taxation Rules, 2011 which deals with point of taxation in case of reverse charge which is as follows :
Point of taxation in respect of reverse charge will be the payment date or the first day that occurs immediately after a period of three months from the date of invoice, whichever is earlier.
Final conclusion :
Based on the above provisions of Point of Taxation Rules, 2011, New rate of service tax i.e. 14% would be applicable subject to
the fact that amount is credited after 4 working days in the bank account.
If you have any more questions w.r.t. this answer or required more clarification do revert back with your reply
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