Tax credit
This query is : Resolved
Mantu Agarwal
(Querist)
26 June 2013
Dear Expert,
We are in real estate business.
Suppose Mr A had given Rs. 200000 agst booking of flat No. 5A to us.
After 2 month Mr A cancelled the booking and we return the entire amount i.e Rs 2 Lakh to him.
Now Mr. B booked the same flat No 5A by depositing RS. 2 Lakh.
My question is as we had earlier deposited the Service Tax on RS. 2 Lakh ie RS. 6180/- agst booking of flat by Mr A.
whether we have to pay the S.tax again for booking for same flat? If not how can we show in Return?
Thank You,
Regards,
Mantu Agarwal
We are in real estate business.
Suppose Mr A had given Rs. 200000 agst booking of flat No. 5A to us.
After 2 month Mr A cancelled the booking and we return the entire amount i.e Rs 2 Lakh to him.
Now Mr. B booked the same flat No 5A by depositing RS. 2 Lakh.
My question is as we had earlier deposited the Service Tax on RS. 2 Lakh ie RS. 6180/- agst booking of flat by Mr A.
whether we have to pay the S.tax again for booking for same flat? If not how can we show in Return?
Thank You,
Regards,
Mantu Agarwal
CA Kapil Verma
(Expert)
26 June 2013
while filing service tax return, first you need to deduct the money return to A from your gross receipt.
and add new money received to you gross receipt.
then calculate Service tax.
and add new money received to you gross receipt.
then calculate Service tax.
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