Adjustment of service tax payable by ca firm
This query is : Resolved
09 October 2014
Dear sirs,
A CA firm pays 20000 service tax on attending professional conferences and other programmes for improving skill set of its partners. On the other hand it raises bills for providing services and collects a service tax of 100000. Is it permissible for CA firm to set off 20000 from 100000 and can firm deposit rs 80000 as service tax with department?
15 October 2014
Yes, firm can claim setoff as per CC rule
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