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
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
