Service Tax Point of Taxation Rules 2011 For 2016 Exams
Service Tax Point of Taxation Rules 2011 Applicable for May/ June 2016 Exams By CMA Loganathan Sekar. The Service Tax Point of Taxation Rules 2011 (hereinafter referred to as “the POT Rules”) were notified on March 1, 2011 and have been amended from time to time. Service tax is one of the most important sources of revenue for the Central Government and therefore the legislators are trying to bring more and more persons under the service tax net. The introduction of Negative List Regime w.e.f. 01.07.2012 is an example of this.
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Basic Structure of POT Rules, 2011
Rule 3: Main Rule (This Rule is attracted when no specific rule is prescribed for any situation)
Rule 4: Determination of point of taxation in case of change of rate of tax (This Rule is very significant in case there is change in effective rate of tax)
Rule 5: Payment of tax in cases of new services (If a new service has been introduced for the first time then what will be the rate of tax applicable to the newly introduced service and its tax-ability)
Rule 6: Determination of point of taxation in case of continuous supply of service (Omitted by the Point of Taxation (Amendment) Rules, 2012, w.e.f. 1-4-2012 and this rule has been merged with Rule 3 of the POT Rules,2011)
Rule 7: Point of taxation in case of Reverse charge mechanism (This Rule also determines the point of taxation in case of associated enterprises also)
Rule 8: Point of taxation in case of Copyright Services, etc.
Rule 8A: Where the point of taxation cannot be determined as per these rules (Central Excise Officer determines the Point of Taxation)
Rule 9: Transitional Provisions (If the Service has been completed or the invoice has been issued up to 30-06-2011 then these rules shall not be applicable to the Service Provider)
Download Point of Taxation Rules, 2011 applicable for 2016 ExamsService Tax Point of Taxation Rules 2011
Point of Taxation Rules, 2011
Service Tax Point of Taxation Rules 2011 for 2016 Exams
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