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Excess deposited service tax adjustment

Ashish Joshi (SR. Executive) (32 Points)

20 August 2014

Hi,

We have deposited excess Service tax on Rent a Cab (Reverse charges). We have deposited 100% instead of 40%.

Also we have filled the return for this period (Oct13 to Mar14).

Please confirm can we adjust this amount or not.

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2 Replies

Manoj Agarwal (Service Tax Consultant Rourkela ServiceTaxExpert@yahoo.com) (3456 Points)
Replied 22 August 2014

Yes, you can adjust the excess paid. Kindly mail me the details along with your ST-3 Return for H2 2013-14.

Venkatanarayana GM (Partner associate at Hiregange & Associates) (1279 Points)
Replied 22 August 2014

Dear Mr. Ashish Joshi,

where an assessee has paid to the credit of Central Government any amount in excess of the amount required to be paid towards service tax liability for a month or quarter, as the case may be, the assessee may adjust such excess amount paid by him against his service tax liability for the succeeding month or quarter, as the case may be.
The adjustment of excess amount paid, as above shall be subject to the
condition that the excess amount paid is on account of reasons not involving interpretation
of law, taxability, valuation or applicability of any exemption notification.

Ref:- Rule 6 (4) (4a) (4b) of Service tax rules 1994,.