Greetings from Team SA!
"If I were asked to give what I consider the single most useful bit of advice for all humanity it would be this: Expect trouble as an inevitable part of life and when it comes, hold your head high, look it squarely in eye and say, 'I will be bigger than you. You cannot defeat me.'”
- Ann Landers (American Advice columnist)
We human beings are so adapted to ‘ set patterns’ that anything in nature of a change is first viewed as ‘trouble’. If so, our taxation laws are to be viewed not just as ‘troubles’ but as ‘dangers’ since there happens an unexpected revamping of even the basic concepts most of the times. The Point of Taxation Rules, 2011 is one such legislation which transforms the basis of taxation by shifting liability under Service tax from ‘receipt’ to ‘accrual’ basis. The Point of Taxation Rules, 2011 coming in to effect from 01-07-2011 does not leave much choice than to acquaint and familiarise ourselves with myriad permutation and combinations prescribed on the point at which service tax is to be discharged on provision of various services.
... Click for FAQ on POT