Payment of Service Tax in advance
This query is : Resolved
03 July 2010
Sir,
Our co. provides financail services hence on monthly basis we have to pay service tax.
But there are 2 cases where we have to refund the amount so can I adjust the service tax paid on those bills in the next month's payment?
Our co. provides financail services hence on monthly basis we have to pay service tax.
But there are 2 cases where we have to refund the amount so can I adjust the service tax paid on those bills in the next month's payment?
03 July 2010
If you have deposit service tax in advance, then you can adjust it from next month dues.
AS PER FINANCE BILL 2008, RULE 6 IS AMENDED AS BELOW FOR PAYMENT OF SERVICE TAX IN ADVANCE.
(VI) Changes in the Service Tax Rules, 1994:
(1) Rule 6 is being amended to insert sub-rule (1A) to extend the facility to pay service
tax in advance to all taxable persons. Service tax paid in advance is allowed to be self-adjusted
towards service tax liable to be paid for the subsequent period;
AS PER FINANCE BILL 2008, RULE 6 IS AMENDED AS BELOW FOR PAYMENT OF SERVICE TAX IN ADVANCE.
(VI) Changes in the Service Tax Rules, 1994:
(1) Rule 6 is being amended to insert sub-rule (1A) to extend the facility to pay service
tax in advance to all taxable persons. Service tax paid in advance is allowed to be self-adjusted
towards service tax liable to be paid for the subsequent period;
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