Reg maintenance of separate set of books
This query is : Resolved
11 November 2013
Hi
As per service tax, it is mandetory for assessee to maintain separate set of accounts if he is providing exempted services. (ie. if he does not want to pay 6%/8% of exempted amount). If assessee maintains separate set of books but did not provide the details or submit the letter to that effect to service tax department, can service tax dept assume that assessee has not maintained separate set of books? or is it just a technical issue which can be sorted out. Also are there any case laws regarding this issue?
As per service tax, it is mandetory for assessee to maintain separate set of accounts if he is providing exempted services. (ie. if he does not want to pay 6%/8% of exempted amount). If assessee maintains separate set of books but did not provide the details or submit the letter to that effect to service tax department, can service tax dept assume that assessee has not maintained separate set of books? or is it just a technical issue which can be sorted out. Also are there any case laws regarding this issue?
11 November 2013
You may also Pay an ‘amount’ equal to proportionate Cenvat credit attributable to exempted final product/ exempted output services, as provided in rule 6(3A) – Rule 6(3)(ii) of Cenvat Credit Rules.
Whether asesse maintains seperates books or not has to be declared in the service tax returns which is one of the questions in the returns. Further is assesse opts for Rule 6(3) he also is required to intimate the department by way of letter about the option opted and option once selected cannot be changed in the middle of a financial year.
Whether asesse maintains seperates books or not has to be declared in the service tax returns which is one of the questions in the returns. Further is assesse opts for Rule 6(3) he also is required to intimate the department by way of letter about the option opted and option once selected cannot be changed in the middle of a financial year.
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- EXPORT COMMERCIAL INVOICE HSN CODE
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- Journal entry of busniess expenses
- GST not cancelled by tenant
- FORM 141 SDV query
- Form 140 tds
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
