Tax Adjustment
This query is : Resolved
24 October 2009
I had taken short cenvat credit due to wrong calculation, due to which I had paid service tax by cash along with interest.
Now, as I have reworked my cenvat credit, I want to know, if I can treat that service tax payment and interest as advance payment and adjust for future liability.
Now, as I have reworked my cenvat credit, I want to know, if I can treat that service tax payment and interest as advance payment and adjust for future liability.
24 October 2009
It can't be treated as advance payment of service tax,
if u want to pay the advance service tax than u have to inform the department with in 15 days.
How ever u can adjust the tax up 100,000 for next period but
1.THAT WILL NOT DUE TO INTERPRETATION law,
2. if maintain cenralised billing or accounting system, without any limit,
how ever ur case is not that,
Adjustment is not possible ,
if u want to pay the advance service tax than u have to inform the department with in 15 days.
How ever u can adjust the tax up 100,000 for next period but
1.THAT WILL NOT DUE TO INTERPRETATION law,
2. if maintain cenralised billing or accounting system, without any limit,
how ever ur case is not that,
Adjustment is not possible ,
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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- SGST balance is there in credit ledger how to adjust for cgst
- 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
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
