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Non receipt of payment

This query is : Resolved 
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(Querist)
11 October 2011 From 01/07/2011 we are paying service tax on accrual basis. What happens if payment not realised. Can we reverse the Service Tax, if yes after how much time. plz also provide relevant circular/notificatio/rules.
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Pankaj Agarwal

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Pankaj Agarwal (Expert)
28 October 2011 Till date, there has been no clarification provided on this issue. I am of the opinion that service tax paid on amount not realised cannot be adjusted or reversed against future liability as is in the case of excise duty.
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