TMI Blogpoint of taxation ca servicesX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Cash 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 provid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed; 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 of 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 Ganesh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an 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 imposition 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 explaine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d 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 received prior to November 15, 2015 and Invoice issued within 14 days of le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vy (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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Yes - Reply By Ganeshan Kalyani - The Reply = Yes Rule 5 of point of taxation rule is applicable as SBC is a new levy. - point of taxation ca services - Query Started By: - satbir singh wahi Dated:- 11-11-2015 Service Tax - Got 5 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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