Refund of service tax
This query is : Resolved
Nitin Agarwal
(Querist)
01 March 2012
Pls tell me provisions of time limit for 'refund of service tax'
Prasad Modak
(Expert)
01 March 2012
3 months from the date of receipt of Refund Application with officer, otherwise interest payable by Govt. not less than 5%p.a. and not more than 13% p.a. (Present Rate of Interest is 6%)
Nitin Agarwal
(Querist)
01 March 2012
Suppose that one company had paid 4,00,000/- more service tax in jan.2008. Can they adjust or refund in 2012 ?
PUNEET GOYAL
(Expert)
01 March 2012
Under which section or rule you are claiming refund???????//
PUNEET GOYAL
(Expert)
01 March 2012
This case is dealt be provision of rule 6 (4A) of Service Tax Rules, 1994. Provision of same are as under:
(4A) Notwithstanding anything contained in sub-rule (4), where an assessee has paid to the credit of Central Government any amount in excess of the amount required to be paid towards service tax liability for a month or quarter, as the case may be, the assessee may adjust such excess amount paid by him against his service tax liability for the succeeding month or quarter, as the case may be.
(4B) The adjustment of excess amount paid, under sub-rule (4A), shall be subject to the following conditions, namely:-
(i) excess amount paid is on account of reasons not involving interpretation of law, taxability, classification, valuation or applicability of any exemption notification,
(ii) excess amount paid by an assessee registered under sub-rule (2) of rule 4, on account of delayed receipt of details of payments towards taxable services may be adjusted without monetary limit,
(iii) in cases other than specified in clause (ii) above, the excess amount paid may be adjusted with a monetary limit of two lakh rupees for a relevant month or quarter, as the case may be,.
(iv) the details and reasons for such adjustment shall be intimated to the jurisdictional Superintendent of Central Excise within a period of fifteen days from the date of such adjustment.
Check in which category you fall and accordingly you can adjust excess amount paid but can not claim refund of same.
(4A) Notwithstanding anything contained in sub-rule (4), where an assessee has paid to the credit of Central Government any amount in excess of the amount required to be paid towards service tax liability for a month or quarter, as the case may be, the assessee may adjust such excess amount paid by him against his service tax liability for the succeeding month or quarter, as the case may be.
(4B) The adjustment of excess amount paid, under sub-rule (4A), shall be subject to the following conditions, namely:-
(i) excess amount paid is on account of reasons not involving interpretation of law, taxability, classification, valuation or applicability of any exemption notification,
(ii) excess amount paid by an assessee registered under sub-rule (2) of rule 4, on account of delayed receipt of details of payments towards taxable services may be adjusted without monetary limit,
(iii) in cases other than specified in clause (ii) above, the excess amount paid may be adjusted with a monetary limit of two lakh rupees for a relevant month or quarter, as the case may be,.
(iv) the details and reasons for such adjustment shall be intimated to the jurisdictional Superintendent of Central Excise within a period of fifteen days from the date of such adjustment.
Check in which category you fall and accordingly you can adjust excess amount paid but can not claim refund of same.
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