Service tax will be paid on accrual basis except in certain specified cases Earlier service tax was payable on receipt of payment in respect of taxable services provided But with the introduction of Point of Taxation Rules, 2011 Service Tax would be paid on accrual basis except in certain specified cases. Important Provisions. A. Date […]
Clarification on Notices/Reminder Letters Issued for Life Insurance Policies
RULE 4A OF THE SERVICE TAX RULES, 1994 – TAXABLE SERVICE TO BE PROVIDED OR CREDIT TO BE DISTRIBUTED ON INVOICE, BILL OR CHALLAN – CLARIFICATION IN RESPECT OF NOTICES/REMINDER LETTERS ISSUED FOR LIFE INSURANCE POLICIES CIRCULAR NO. 166/1/2013-ST [F.NO. 354/190/2012-TRU], DATED 1-1-2013 It has been represented by life insurance companies that in terms of […]