Repayment of service tax collected
This query is : Resolved
14 March 2009
Dear all,
WE have been collecting service tax from our clients from the beginning of the year. But we did not make any deposit with the govt. Now we have realised that our domestic turnover is less than 10 lacs. Can we now refund whatever we collected to our clients. Please help me with this. And in the previous year our gross receipts were less than the stipulated 8 lacs.
WE have been collecting service tax from our clients from the beginning of the year. But we did not make any deposit with the govt. Now we have realised that our domestic turnover is less than 10 lacs. Can we now refund whatever we collected to our clients. Please help me with this. And in the previous year our gross receipts were less than the stipulated 8 lacs.
14 March 2009
In my view once you have charged and collected service tax from your clients you have remit the same to the government. Moreover there is no time limit for recovery of same from you under 11 D which is made applicable to service tax. As for as I know there is no procedure to refund the service tax collected by you from your clients. You have to remit the collected service tax along with interest.
15 March 2009
U need to pay the service tax since you have collected it
15 March 2009
Continuing Mr.Balu, Section 73A(2) of the Finance Act,1994 says any service tax collected must be paid to the Government.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- 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
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
