19 July 2013
Sir, Regarding Service tax changes during previous year from 1-7-2013 under reverse mechanism if person received 12.36% service tax after 1-7-2012 and same deposited in bank at later stage the giver will take refund from the contractor, my question is how a contractor will take setoff of excess service tax deposited in bank.
19 July 2013
The aforesaid case is covered by Rule 6(4A) & 6(4B) of Service Tax Rules, 1994. As per same it may be adjusted against service tax liability of succeeding month or quarter as the case may be.
CAclubindia
