Service tax liability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2015 Sirs,

We are a service provider. now we are liable to pay service tax.In this FY first quarter we collect service tax Rs.118388.as as per bills we paid service tax Rs.32526. In this case how much is our ST liability??
Rs.118388 or not

Arun Kumar Singh

Arun Kumar Singh (Expert)
Follow

16 September 2015 You should pay the service tax which amount have collected. If you have not paid the duty at the time then you need to pay duty along with interest.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2015 Didn't get any deduction for ST paid???

Arun Gulati

Arun Gulati (Expert)
Follow

16 September 2015 Hi, you are entitle for CENVAT credit of Service tax already paid by you for the service received by you. e.g. if your ST liability is Rs. 1 lakh, which you have collected from your clients and you have paid an amount of Rs. 40,000/- towards service tax for the services used by you e.g. Telephone etc. In that case, you liable to pay Rs. 60,000/- to the Government. PLEASE NOTE THERE ARE CERTAIN RESTRICTION ON CENVAT CREDIT.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now