TMI BlogPoint of Taxation Rules, 2011X X X X Extracts X X X X X X X X Extracts X X X X ..... quires,- (a) Act means the Finance Act, 1994 (32 of 1994); (b) associated enterprises shall have the meaning assigned to it in section 92A of the Income Tax Act, 1961 (43 of 1961) ; (c) continuous supply of service means any service which is provided, or to be provided continuously, under a contract, for a period exceeding three months, or where the Central Government, by a notification in the Official Gazette, prescribes provision of a particular service to be a continuous supply of service, whether or not subject to any condition; (d) invoice means the invoice referred to in rule 4A of the Service Tax Rules, 1994 and shall include any document as referred to in the said rule; (e) point of taxation means the po ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hstanding anything contained in rule 3, the point of taxation in cases where there is a change of rate of tax in respect of a service, shall be determined in the following manner, namely:- (a) in case a taxable service has been provided before the change of rate,- (i) where the invoice for the same has been issued and the payment received after the change of rate, the point of taxation shall be date of payment or issuing of invoice, whichever is earlier; or (ii) where the invoice has also been issued prior to change in tax rate but the payment is received after the change of rate, the point of taxation shall be the date of issuing of invoice; or (iii) where the payment is also received before the change of rate, but the invoice for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r from time to time, shall be treated as separately provided at the date on which the payment is liable to be made by the service receiver, if such date is specified in the contract. (2) If, before the time specified in sub-rule (1), the person providing the service issues an invoice or receives a payment, the service shall, to the extent covered by the invoice or the payment made thereof, be deemed to have been provided at the time the invoice was issued or the payment was received, as the case may be, whichever is earlier. Explanation.- For the purposes of this rule, wherever any advance, by whatever name known, is received by the service provider towards the provision of taxable service, the point of taxation shall be the date of rec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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