Payment on accrual basis
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 May 2012
we have to pay Service tax on accrual basis
ie) Date of Payment, Date of providing services, or date of billing which ever is earlier.
If I billed for Rs.20000+ST ie) Rs.22,060/-
in Jan 2012 and i paid the service tax in March 2012.
But i have received the payment of Rs.20000/- towards full settlement of my bill.
What i have to do?
There is any provision to reverse the amount of Service tax paid?
ie) Date of Payment, Date of providing services, or date of billing which ever is earlier.
If I billed for Rs.20000+ST ie) Rs.22,060/-
in Jan 2012 and i paid the service tax in March 2012.
But i have received the payment of Rs.20000/- towards full settlement of my bill.
What i have to do?
There is any provision to reverse the amount of Service tax paid?
CA NIKHIL OZA
(Expert)
02 May 2012
U can claim for refund of such excess amount..
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