The Govt has circulated a paper asking for public comments on the proposed amendments in service tax provisions by which the obligation to deposit the tax would arise on raising of invoice or payment whichever is earlier. This is a step towards the GST regime. You are aware that most of the time realisation of bills is delayed and many a time not paid at all. I also remember having read that there will not be any provision for refund if the bills are not realised for the prescribed period and/ or not paid at all.
The draft rules along with explanatory notes and the rationale behind mooting such amendment, can be downladed here :-
Download direct link : https://docs.google.com/document/edit?id=1NMbgTbFKacMxrlZ6Ts_dbwW_1KatIqiK3iCdCCDZU8Q&hl=en
The draft rules are also available on the sites:
http://www.cbec.gov.in/; http://www.taxindiaonline.com/
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