Check sibling questions

Earlier As per Rule 5

Suppose new service become taxable for the first time,

then no tax is payable if

  • Both Invoice issued and payment received before service becoming taxable
  • Payment received before service becoming taxable but invoice issued within 14 days of service becoming taxable

Now as per Rule 5(From 1 March 2016)

Suppose new service become taxable for the first time, or a new levy on services(KKC) . (New Amendment)

then no tax is payable if

  • Both Invoice issued and payment received before service becoming taxable
  • Payment received before service becoming taxable but invoice issued within 14 days of service becoming taxable 

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Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.