Basic exemption of rs.1000000.00

This query is : Resolved

Sanjeev Agarwal (Querist)
Follow

24 April 2017 I am a new assessee. I have deposited the service tax for first two quarters of the year 2016-17 and also filed return. I forgot to take basic initial exemption of Rs.1000000/-availabe to small assessee in first year. The time to revise return has also elapsed. How can I claim refund of extra service tax deposited by me? I am mutual fund agent and I do not collect service tax from any body. The commission I receive on sales of Mutual Funds from companies, I treat it as inclusive of Service Tax and deposit tax thereon. Please help me in getting refund of extra service tax deposited.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

24 April 2017 As you can't revise the return you will not be able to claim refund adjust in future payments.

Sanjeev Agarwal

Sanjeev Agarwal (Querist)
Follow

24 April 2017 Can I adjust the same in future payments, How? I have claimed turnover of more than 1000000 in the half yearly return and now how can I claim lower return without revising the return?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now