Service tax
This query is : Resolved
21 January 2013
I have made Sales after November,2011 for which invoice have been issued to Debtors. Invoice consists of Basic Selling Price plus Service tax@ 12.36%. Subsequently, I want to pass a bad debt entry for Debtors.
So can I adjust my service tax liability against the bad debt as per Point of Taxation Rules.
So can I adjust my service tax liability against the bad debt as per Point of Taxation Rules.
21 January 2013
As per sub-rule (1A) of rule 6 of the Service Tax Rules, 1994, which reads as follows.
“(1A) Without prejudice to the provisions contained in sub-rule (1), every person liable to pay service tax, may, on his own volition, pay an amount as service tax in advance, to the credit of the Central Government and adjust the amount so paid against the service tax which he is liable to pay for the subsequent period:
Provided that the assessee shall,-
++ intimate the details of the amount of service tax paid in advance, to the jurisdictional Superintendent of Central Excise within a period of fifteen days from the date of such payment; and
++ indicate the details of the advance payment made, and its adjustment, if any in the subsequent return to be filed under section 70 of the Act;
“(1A) Without prejudice to the provisions contained in sub-rule (1), every person liable to pay service tax, may, on his own volition, pay an amount as service tax in advance, to the credit of the Central Government and adjust the amount so paid against the service tax which he is liable to pay for the subsequent period:
Provided that the assessee shall,-
++ intimate the details of the amount of service tax paid in advance, to the jurisdictional Superintendent of Central Excise within a period of fifteen days from the date of such payment; and
++ indicate the details of the advance payment made, and its adjustment, if any in the subsequent return to be filed under section 70 of the Act;
Message likes :
1 times
21 January 2013
But my querry is that, I have not paid service tax against such Sales and amount is also not recoverable from debtors. So can I adjust my service tax liability (against such sales) against bad debt.
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Building and other construction workers welfare cess act 1996
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Annual return of gst limit
- Reporting of STCG on Property in ITR
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
