GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
What's New Case Laws Highlights Articles News Forum Short Notes Statutory TMI SMS More ...
Extracts
Home List
← Previous Next →

KKC in invoice of 31/5/16

Service Tax - Started By: - Sanjay Aggarwal - Dated:- 10-6-2016 Last Replied Date:- 25-6-2016 - Dear Sir,A service provider has raised the invoice on 31.05.2016 for service performed by them and they are charging the KKC in the invoice dated 31.05.2016. and the fact is that the payment will be made to them in june 2016.now my question is, eventhough payment will be made to them in june 2016, CAN THEY CHARGE KKC ON INVOICE DATED 31.05.2016 ? - Reply By Ganeshan Kalyani - The Reply = Ideally they .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

efuse to pay KKC. However if the payment in respect of the invoice dated 31.5.2016 is made on or after 1.6.2016, then your service provider has to raise a supplementary invoice charging KKC on you in view of the provisions of rule 5 of Point of Taxation Rules, 2011 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 . As per Explanation 1 apended to this rule the same rule shall apply mutatis mutandis .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Reply = the raising of invoice is of no avail as the amount payable on account of provision of service is being remitted at a later date, i.e., after the date when the new Cess becomes payable. therefore, the payment of Cess will be the date for accountal of settlement of tax arrears, if any. In case payment is received after 1st June when the new CEss is levied; the assessee would have no option. as the assessee knows in advance that the money is not yet arrived in his account and would be comi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Latest Notifications:

    Dated      Category

20-7-2017 Cus (NT)

18-7-2017 IT

18-7-2017 CE (NT)

18-7-2017 CE

18-7-2017 GST CESS Rate

15-7-2017 Kerala SGST

14-7-2017 Andhra Pradesh SGST

14-7-2017 Cus (NT)

14-7-2017 Cus

13-7-2017 Co. Law

13-7-2017 Co. Law

13-7-2017 ADD

13-7-2017 ADD

12-7-2017 Jammu & Kashmir SGST

12-7-2017 Gujarat SGST

12-7-2017 Gujarat SGST

12-7-2017 CGST Rate

12-7-2017 UTGST Rate

12-7-2017 UTGST Rate

12-7-2017 IGST Rate

More Notifications


Latest Circulars:

19-7-2017 Income Tax

18-7-2017 Customs

17-7-2017 Customs

14-7-2017 Income Tax

13-7-2017 Central Excise

13-7-2017 Customs

13-7-2017 Central Excise

13-7-2017 Customs

7-7-2017 Income Tax

7-7-2017 Goods and Services Tax

More Circulars



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version