ST on Booking Cancellation
This query is : Resolved
Navin M Patel
(Querist)
28 October 2010
The Developer received booking amount from the Flat Holder of Rs. 100,000/- and Service Tax @2.757% of Rs. 2757/- and Service Tax deposited in Government Account. After six month the said Flat Holder cancel the Flat and Developer return Rs. 102757/- to the Flat Holder.
Now my question is.. Can the Developer take credit of Rs. 2757/-? Or What is the Effect on Account book?
Now my question is.. Can the Developer take credit of Rs. 2757/-? Or What is the Effect on Account book?
29 October 2010
No, he cannot take the credit, since he refunded the service tax amount wrongly.
O.D.SHARMA
(Expert)
29 October 2010
Hi,
This refund can be adjusted thru return.This is cancellation of booking & service tax refunded.Builder can claim it.
This refund can be adjusted thru return.This is cancellation of booking & service tax refunded.Builder can claim it.
29 October 2010
yes he can claim.
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