Service tax adjustment or refund on cancellation of invoices
This query is : Resolved
21 October 2013
Dear learned friends,
Some invoices relating to Inter Usage Charges were issued to pvt.operators spreading through july-11 to march-13 according to POT rules service tax of rupees around 4 lacs were paid but in Sept- 13 the invoices were cancelled on account of excess billing.
Plz suggest by which rule of service tax this service tax of Rs 4 lacs can be adjusted or refunded and how.
Some invoices relating to Inter Usage Charges were issued to pvt.operators spreading through july-11 to march-13 according to POT rules service tax of rupees around 4 lacs were paid but in Sept- 13 the invoices were cancelled on account of excess billing.
Plz suggest by which rule of service tax this service tax of Rs 4 lacs can be adjusted or refunded and how.
21 October 2013
And not a single penny is recovered is recovered on these invoices.
21 October 2013
Hi
You can issue Credit Note with Service Tax reversal since it is case of excess billing.
There is no need for cancelling invoices raised.
Rule 6 (3) of service tax rules 1994 as amended by NN 26/2011 dtd
31.03.11 and clarification by point no 11 (ii) of circular no JS TRU (II) DTD
31.03.11.
Thanks//VaibhavJ
You can issue Credit Note with Service Tax reversal since it is case of excess billing.
There is no need for cancelling invoices raised.
Rule 6 (3) of service tax rules 1994 as amended by NN 26/2011 dtd
31.03.11 and clarification by point no 11 (ii) of circular no JS TRU (II) DTD
31.03.11.
Thanks//VaibhavJ
Message likes :
2 times
21 October 2013
@ VaibahvJ
Thanks for prompt reply.
Is there any time limit or amount of service tax limitation (eg upto 2 lakh) on self adjustment by issuing credit note.
Thanks for prompt reply.
Is there any time limit or amount of service tax limitation (eg upto 2 lakh) on self adjustment by issuing credit note.
21 October 2013
W.e.f.01.04.2012, rule 6(4B) has been amended vide notification no. 3/2012 dated 17.03.2012 to remove conditions mentioned in column (ii) & (iii) hereinabove. Now, adjustment of excess payment of service tax made can be adjusted without any monetary limit. Further no intimation is required to be filed with Superintendent. However, adjustment of excess payment made shall be reflected in service tax return of the assessee.
21 October 2013
For detailed understanding refer: https://taxguru.in/service-tax/adjust-excess-service-tax-payment.html
Thanks
Thanks
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