STI NEWS;CHEQUE COLLECTION COSTLIER FROM APRIL 1,2011” plus 1 more

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STI NEWS;CHEQUE COLLECTION COSTLIER FROM APRIL 1,2011” plus 1 more

CHEQUE COLLECTION COSTLIER FROM APRIL 1,2011

Posted: 01 Apr 2011 08:31 AM PDT


Making payments through cheques may become a costlier affair from 01.04.2011, as RBI has allowed banks to levy higher service charges for their clearing, especially of high-value and outstation cheques. As per a RBI circular coming into effect from April 1, 2011, banks would be free to fix service charges on speed clearing of cheques of value above Rs 1 lakh.  At present, RBI does not allow...

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Point of Taxation Rules, 2011- analysis (Service tax on invoice basis/paymet)

Posted: 01 Apr 2011 08:05 AM PDT


As you are aware, the Point of Taxation Rules (PTR) were formulated vide Notification No.18/2011-ST dated 01.03.2011. Based on the feedback, certain amendments are being carried out in these rules vide Notification No. 25/2011-ST dated 31.03.2011. The highlights of the changes are discussed in the following paragraphs. 2. While the rules shall come into force from 01.04.2011, an option has...

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