point of taxation ca services

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..... point of taxation ca services
Query (Issue) Started By: - satbir singh wahi Dated:- 11-11-2015 Last Reply Date:- 30-11-2015 Service Tax
Got 5 Replies
Service Tax
Chartered Accountant services, the audit completed on 30.09.2015, the invoice is issued on 30.09.2015. But payment is received on 16.11.2015 . Whether rate of service tax be 14% or 14.5% , The books of account maintained on C .....

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..... ash basis of accounting . Reply By MARIAPPAN GOVINDARAJAN: The Reply: The service tax rate is to be decided by any of two of the following: 1. Period of service provided; 2. Date of invoice issued; 3. Consideration received. In your case the audit was completed on 30.09.2015; the invoice was issued on 30.09.2015. Payment will be received only after 15.11.2015 i.e., the date of implementation o .....

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..... f Swachh Bharat Cess. The date of completion of audit and the invoice issue are before 15.11.2015 the rate of tax applicable in your case is only 14%. Reply By Ganeshan Kalyani: The Reply: Yes 14% is applicable as both service provided and invoice raised is before change introduction of swachh bharat cess. Reply By Mahir S: The Reply: Sir, For services provided and invoices issued before the i .....

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..... mposition of Swachh Bharat Cess but payment received after imposition of Swachh Bharat Cess, then in such cases the rate of service tax shall be 14 %, as explained above. Reply By YAGAY AND SUN: The Reply: The CBEC has provided clarifications in this regard. * Applicability of Cess Payment received prior to November 15, 2015 and Invoice issued prior to November 15, 2015 * No Payment rece .....

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..... ived prior to November 15, 2015 and Invoice issued within 14 days of levy (i.e. before November 29, 2015) * No Payment received prior to November 15, 2015, services provided on or after November 15, 2015 and invoice issued after November 29, 2015 (after 14 days of levy) * Yes Payment received, services provided and invoice issued on or after November 15, 2015 * Yes Reply By Ganeshan Kaly .....

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..... ani: The Reply: Yes Rule 5 of point of taxation rule is applicable as SBC is a new levy.
Discussion Forum - Knowledge Sharing .....

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