adjustment of service tax
This query is : Resolved
aditya dubey
(Querist)
06 August 2010
Dear experts
can company adjust the excessive service tax paid in earlier month with the current month srvice tax liability if yes, what are the provisions and compliance thereof?
Thanks
regards
aditya
can company adjust the excessive service tax paid in earlier month with the current month srvice tax liability if yes, what are the provisions and compliance thereof?
Thanks
regards
aditya
VINOD ARORA
(Expert)
06 August 2010
yes, as per S.tax Rules where an assessee has paid to the credit of Central Government service tax in respect of a taxable service, which is not so provided by him either wholly or partially for any reason, the assessee may adjust the excess service tax so paid by him (calculated on a pro rata
basis) against his service tax liability for the subsequent period, if the assessee has refunded the value of taxable service and the service tax thereon to the person from whom it was received.
basis) against his service tax liability for the subsequent period, if the assessee has refunded the value of taxable service and the service tax thereon to the person from whom it was received.
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