01 December 2011
A company filed nil return for period OCT 2010 to MARCH 2011 on 25 April 2011 although it has amount collect from customer on which service tax is payable. this mistake is happened because they were unware that service tax is payble on real estate with the effect from July 2010. Now company want to pay service tax of that period, what it should do, as it has already filled nil return for that period and period of revised return (90 Days) is over.
is company requried to pay service tax although no flat is sold as yet, only advance amount is received?
02 December 2011
Service tax need to paid on receipt basis up to March-2011, so real estate developer received the advance attract service tax also.since the return is already filed and cannot revise now. you can pay the service tax with interest now and intimate the mistake to your service tax commissionrate and incorporate the same in current service tax return
CAclubindia
