Excess provision of Service Tax
This query is : Resolved
Rabnoor Singh Khanna
(Querist)
26 August 2009
I want to ask a query that if in case a party wants to give only a part of billing say 70% and dont want to pay remaining amount then what will be accounting treatment of remaining provision of service tax.
26 August 2009
In such case u will revise such bill or sent Debit note to that party at the time of this adjustment u should adjust proportionate service tax of the bill.
MANAS ROUT
(Expert)
26 August 2009
service tax liability is on receipt basis so no need of creating provision for the uncollected amount. u have to adjust the difference through debit note or in any other suitable way.
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