Reversal of past years invoices
This query is : Resolved
CA. ALOK SHARMA
(Querist)
17 November 2012
Dear All,
Please note the issue.
In march, 12 I raised invoice of Rs. 110/- (100 as basic and 10 as service tax assumed).
Now in Oct, 12 client wrote me mail that invoice is wrong. actual basic should be 90 only.
Now I reversed complete transaction and new scenario is bill of Rs. 99 (Rs. 90 as basic and 9 as service tax)
Problem is that I have paid Rs. 10 to government. NOw I cant revise the return. but I have received only Rs. 9 from my client.
What should be accouting treatment.????
and how should I recover loss of Rs. 1 either from government or from my client. and howww??????
Thsnkks,
Please note the issue.
In march, 12 I raised invoice of Rs. 110/- (100 as basic and 10 as service tax assumed).
Now in Oct, 12 client wrote me mail that invoice is wrong. actual basic should be 90 only.
Now I reversed complete transaction and new scenario is bill of Rs. 99 (Rs. 90 as basic and 9 as service tax)
Problem is that I have paid Rs. 10 to government. NOw I cant revise the return. but I have received only Rs. 9 from my client.
What should be accouting treatment.????
and how should I recover loss of Rs. 1 either from government or from my client. and howww??????
Thsnkks,
Pradeep Nainawati
(Expert)
18 November 2012
Kindly refer Rule 6(3) of Service Tax Rules 1994.
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