refund of service tax
This query is : Resolved
16 October 2009
we have paid more service tax then actual collected, kindly suggest us we have been received refund or not.
Same thing happend in previos year , we have collected less then we have paid to the government.
If we can get the refund then tell us the procedure.
Awaiting for your reply
Regards,
Milan B.Patel
Same thing happend in previos year , we have collected less then we have paid to the government.
If we can get the refund then tell us the procedure.
Awaiting for your reply
Regards,
Milan B.Patel
16 October 2009
refund of service tax (Service Tax)
Though Cenvat credit, which is eligible to claim, cannot be refunded (unless it is an export), the excess service tax paid in cash can be taken back as refund. As per Service Tax Rules, the amount of excess service tax paid in cash can be adjusted against short payment of service tax for the same period of deposit as the whole amount of service tax paid for the period then will be equal to the amount to be paid.
The adjustment is tenable and the assessing officer (AO) cannot question it. If the assessee is not able to make such adjustment and goes on to pay the service tax resulting in excess payment, he would be entitled for refund.
Though Cenvat credit, which is eligible to claim, cannot be refunded (unless it is an export), the excess service tax paid in cash can be taken back as refund. As per Service Tax Rules, the amount of excess service tax paid in cash can be adjusted against short payment of service tax for the same period of deposit as the whole amount of service tax paid for the period then will be equal to the amount to be paid.
The adjustment is tenable and the assessing officer (AO) cannot question it. If the assessee is not able to make such adjustment and goes on to pay the service tax resulting in excess payment, he would be entitled for refund.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- Transporter Declaration form
- Multiple trade mark
- LC charges in relation to Asset purchased should be Capitalised ?
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
