Sunday, March 27, 2011

SERVICE TAX ON DUE BASIS RULE NOW APPLICABLE FROM 01.07.2011


on Sunday, March 27, 2011

 Point of taxation Rules are due to come into force from April 1, 2011 and are meant to shift the payment of service tax from only cash basis towards accrual basis. The changes are essential to align the system of payment of taxes between goods and services. Many taxpayers have expressed concerns about some provisions and also sought some time for the switchover on account of changes required in their software. Accordingly, certain changes in the relevant provisions are being worked out and an additional period of three months up to June 30, 2011 is being provided to make the transition. These changes shall be notified shortly after completing the process of consultation.

What is Point of taxation read details here
Determination of Time & Rate in Service Tax (Point of Taxation Rules, 2011)

Read more: Determination of Time & Rate in Service Tax (Point of Taxation Rules, 2011) | SIMPLE TAX INDIA-TDS RATE INCOME TAX RATE 

0 comments:

Post a Comment