Convention centre
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 February 2013
how is the treatment of function cancellation charges??
we collect advance (say rs 50000)for banquet and pay service tax on it.when the invoice is raised,service tax is paid after taking credit for the tax already paid on advance.
suppose the function is cancelled after remitting service tax and where we retain say rs 10000 and refund the balance(rs40000), how should this income be treated?
wat is the effect of service tax on this?
pls reply
we collect advance (say rs 50000)for banquet and pay service tax on it.when the invoice is raised,service tax is paid after taking credit for the tax already paid on advance.
suppose the function is cancelled after remitting service tax and where we retain say rs 10000 and refund the balance(rs40000), how should this income be treated?
wat is the effect of service tax on this?
pls reply
29 July 2013
Adjust the ST paid on 40,000 against the balance tax payable by you as you are showing only 10000 as income. Since no service was rendered for 40000 you are not liable for ST on 40000
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