The point of taxation mechanism is used to ascertain the exact point in time when a tax liability arises on a good or service, and the point therefore when the tax liability is required to be paid, either by...
Previously, we have discussed time of supply for goods regards the forward charge mechanism; here we place focus on the reverse charge mechanism to determine the time of supply of goods. Firstly, it is imperative to understand that service...
Service tax is currently applicable under the current indirect tax regime upon the provision of taxable services. The point of taxation helps in ascertaining when the service tax is actually payable to the central government by the recipient or...
Under the reverse charge mechanism, the time of supply for services is determined by payment of tax credit of the government from the recipient of the services or the buyer of the services – this is different from forward...