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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 Point of Taxation Rules, 2011 ( the POTR ) by inserting a proviso after the second proviso, in order to provide Point of Taxation ( POT ), where there is change in the liability or extent of liability of Service tax to be paid by Service Receiver un .....

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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 immediately following the end of said 3 months from date of invoice would be POT. Further, this newly inserted proviso provides for POT where there is change in the liability or extent of liability of Service tax to be paid by Service Receiver under Rever .....

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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 POTR, which would come into force w.e.f. the date of enactment of the Finance Bill, 2016). Rule 5 of the POTR applies for payment of tax in cases of new services. Further, Rule 5 of the POTR provides that: Where a service is taxed for the first time, th .....

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