CBEC RELIEF TO SERVICES SECTOR

The Central Board of Excise and Custom (CBEC) has clarified that issuance of invoices will be subject to the service taker certifying 'completion of services'. Despite hectic lobbying from the advertising industry, it has refused to change the 14-day norm. These new rules for the services
sector also known as the Point of Taxation Rules 2011 and have been made effective from July 1, 2011.