Excess payment of service tax..
This query is : Resolved
Yogesh Ingale
(Querist)
26 August 2013
One of our client made excess payment of tax for four months mistakenly. So at year end how should I deal with these transactions?? Whether I can take setoff of whole excess amount in next return?? Also, guide me about excess payment of interest on service tax.
CA Mehta Ankur N.
(Expert)
26 August 2013
For service tax payment you can set off against service tax payable in next return.
But for interest i think nothing can be possible except claim it in income tax as expense.
But for interest i think nothing can be possible except claim it in income tax as expense.
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Yogesh Ingale
(Querist)
26 August 2013
Thnx a lot sir.But the issue is, suppose I paid Rs.1000/- excess in Oct,Rs.1000/- in Nov.At year end if I didnt utilized this credit,then in next return can i take set off of Rs.2000/-
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