Rule 5 pertaining to new services applies to new levy also [Rule 5]

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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