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Video Presentation: Reverse Charge - POT & Krishi Kalyan Cess

Service Tax - By: - Bimal jain - Dated:- 4-5-2016 - Dear Professional Colleague, Video Presentation: Reverse Charge - POT & Krishi Kalyan Cess The Central Government vide Notification No. 21/2016-ST dated March 30, 2016, has amended Rule 7 of the .....

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der Reverse Charge in case service has been provided and the invoice issued before the date of such change, but payment has not been made as on such date, as follows: Provided also that where there is change in the liability or extent of liability of .....

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point of taxation shall be the date of issuance of invoice. . The above inserted proviso is an exception to the general POT under Reverse Charge i.e. date of payment provided payment is made within 3 months from date of invoice, otherwise date immed .....

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se Charge because of changes in abatement rate, composition rate, change in rate of Service tax, applicability of any new levy like Krishi Kalyan Cess w.e.f June 1, 2016 etc. The POTR is duly amended/ clarified by following Notifications as on date. .....

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Charge. Notification No. 10/2016-ST dated March 01, 2016 Section 67A of the Finance Act, 1994 ( the Finance Act ) is proposed to be amended to obtain specific rule making powers in respect of the POTR. (Corresponding amendments carried out in the POT .....

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en, - (a) no tax shall be payable to the extent the invoice has been issued and the payment received against such invoice before such service became taxable; (b) no tax shall be payable if the payment has been received before the service becomes taxa .....

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all the cases other than specified above. D.O.F. No. 334/8/2016-TRU dated February 29, 2016 Para No. 12 of the TRU letter provides that the POTR will take care for POT in case of any doubt about the applicability of Service tax rate or apparent cont .....

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