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Negotiations in contract amount

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(Querist)
24 November 2011 In case bill is reduced due to negotiation whether the same is allowable under service tax
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CA. RICHI SAXENA

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CA. RICHI SAXENA (Expert)
26 November 2011 YES IT IS ALLOWED UNDER SERVICE TAX. THE SERVICE TAX RETURN WILL HAVE TO BE REVISED IN THIS CASE AND THE DIFFERENCE IF ANY IN CHALLAN AMOUNT WILL HAVE TO BE PAID TO THE DEPARTMENT WITH INTEREST OR IN CASE THE SERVICE TAX AMOUNT GETS REDUCED THEN THE AMOUNT WILL BE AVAILABLE AS CREDIT IN THE NEXT PERIOD.
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