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September 2011

Clarification on Completion of Service under Point of Taxation Rules — Circular No. 144/13/2011-ST, dated 18-7-2011.

By Tarun Ghia, Brijesh Cholera, Pratik Mehta, Chartered Accountants
Reading Time 1 mins
The Service Tax Rules and Point of Taxation Rules require the assessee to issue an invoice within 14 days of Completion of Service (COS), but the term COS is not clearly defined anywhere, hence CBEC has come up with clarification vide this Circular.

Accordingly, COS would not just mean physical completion of work, but would also include completion of some other auxiliary activities and basic formalities like quality testing, etc. which are pre-requisites to arrive at the invoiceable figure.

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