Notification No.3/2012 - Service Tax dt 17 March 2012 has amended the Point of
Taxation Rules 2011 w.e.f. 1st April 2012. The provisions have been amended
both in the Point of Taxation Rules 2011 and the Service Tax Rules 1994 such
that from 1st April 2012 the payment of tax shall be allowed to be deferred
till the receipt of payment upto a value of Rs 50 lakhs of taxable services.
The facility has been granted to all individuals and partnership firms,
irrespective of the description of service, whose turnover of taxable services
is fifty lakh rupees or less in the previous financial year.
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