Section 43b

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Shanth Raj B (Querist)
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21 September 2012 Sir,

Assessee was required to collect the service tax from the service receivers 2 years back. But assessee did not collect & the same was completely borned by the assessee & paid along with the interest during the PY 2011-12.

Can we claim the said amount of service tax as an expenditure in Profit & Loss account for the year ended 2012?

Amol S Joglekar

Amol S Joglekar (Expert)
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21 September 2012 Service tax borne by the service receiver can be claimed as expenditure

Shanth Raj B

Shanth Raj B (Querist)
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21 September 2012 Sir,
Can we claim, even though the said service tax paid by the service provider is on account of services rendered 2 years back?

Amol S Joglekar

Amol S Joglekar (Expert)
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21 September 2012 the liability to pay this tax arose in this year and hence you can claim the same in the current year.

Shanth Raj B

Shanth Raj B (Querist)
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21 September 2012 Sir,
Can you please tell me the relevant sections/case laws?
It would provide me a ground to claim expenditure.

Amol S Joglekar

Amol S Joglekar (Expert)
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21 September 2012 it is a residuary section which has to follow the simple tests.... pertaining to the year... answer is yes. spent during the year... the answer is yes. For the business or personal.... business purpose.

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