Setoff of loss in professional receipts

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2012 Dear

Please let me know that, can we take setoff of service tax if i raised credit not for the same or for the bad debts.
for e.g. invoice Amt is 33090 (before 31st march 2012)
credit note is 10130/-
so can i take setoff of credit note.

Amol S Joglekar

Amol S Joglekar (Expert)
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21 August 2012 It seems that inr 10000 credit note is issued.. so it should come along with 10.3% service tax(the then rate of service tax)... go by 11030 and not 10130

Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2012 yes. i just want to know that can claim for service tax credit for credit note.

Amol S Joglekar

Amol S Joglekar (Expert)
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21 August 2012 Yes. You need to issue the credit note inclusive of service tax.

Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2012 and what about bad debts?

Amol S Joglekar

Amol S Joglekar (Expert)
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21 August 2012 Credit note by way different situations rank pari passu.

Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2012 sorry sir, didn't get you.

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