Service tax paid more inadvertently
This query is : Resolved
06 January 2015
Hi
If anybody pays service tax under reverse charge more than the actual liability , can he use the excess amount paid for next months' liability or he has to claim refund for the same.
Is there any notification for this & any form / format to be submitted to department.
If anybody pays service tax under reverse charge more than the actual liability , can he use the excess amount paid for next months' liability or he has to claim refund for the same.
Is there any notification for this & any form / format to be submitted to department.
07 January 2015
Rule 6(4) of Service Tax Rules 1994, State that
Notwithstanding anything contained in sub-rule (4), where an assessee has paid to the credit of Central Government any amount in excess of the amount required to be paid towards service tax liability for a month or quarter, as the case may be, the assessee may adjust such excess amount paid y him against his service tax liability for the succeeding month or quarter, as the case may be.
Therefore, you can adjust such excess payment against liability of succeeding month or quarter Service tax liability.
Further, no form is specified for this purpose therefore, book adjustment entry would be sufficient.
Notwithstanding anything contained in sub-rule (4), where an assessee has paid to the credit of Central Government any amount in excess of the amount required to be paid towards service tax liability for a month or quarter, as the case may be, the assessee may adjust such excess amount paid y him against his service tax liability for the succeeding month or quarter, as the case may be.
Therefore, you can adjust such excess payment against liability of succeeding month or quarter Service tax liability.
Further, no form is specified for this purpose therefore, book adjustment entry would be sufficient.
07 January 2015
Thanks
Can it be adjusted for more than one succeeding months.
Can it be adjusted for more than one succeeding months.
08 January 2015
Same Challan No can be used to refer more than one Month/Quarter service tax payment in service tax return.
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
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Share accounting-->fifo - capital gain - period as per fifo?
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- Scrutiny assessments u/s 143(2) for AY 25-26
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- Off Market debit and credit transaction
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- 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
