25 August 2011
There is a continuous billing for Sales every month in a company, and at the due dates, the respective service tax amount is remitted to the govt and also the returns are filed. But at the end of the year, the company in the last invoice made on march 31st,a discount of 7.5% on the Total Sales for full year is given. They have billed service tax only on the difference between the Total bill for the month and the discount for the Year.
My query is, what should done for the excess service tax paid even on the discount received ? Can it be claimed in any way ? If so, could you please provide all the details.
CAclubindia
