ST(urgent)
This query is : Resolved
02 February 2011
If suppose i m considering Service tax liability on billing basis instead of receipts & taking input credit on payment basis & in future suppose my drs became bad so whether i am allowed to adjust excess service tax paid against my future liability. Plz
CA.Hanumantha Reddy
(Expert)
02 February 2011
yes, you can do so.but what is the reason to pay ST on billing bases when act says you are liable only on receipts basis.
02 February 2011
Sir they faced difficulty in knowing that from whome they received money as they received most of it through RTGS and they closed down their system from 24th to 30th or 31st every month as it is hong kong based company so they cant work out ST liability properly
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