Reversal of st
This query is : Resolved
AMIT SAXENA
(Querist)
08 December 2014
Sir,
No payment recived from one party.. they are delaying the payment.. can service tax paid on this amount be reversed...??
please comment
regards
No payment recived from one party.. they are delaying the payment.. can service tax paid on this amount be reversed...??
please comment
regards
Neljo Davis ACA
(Expert)
09 December 2014
Please note that if the amount of invoice is renegotiated due to deficient provision or in any other way changed in terms of conditions of the contract the tax will be payable on the revised amount provided the excess amount is either refunded or a suitable credit note is issued to the service receiver. However, concession is not available for bad debts.
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