Adjustment of excess service tax deposited

Rachna G,

it is based on year to year basis so you can't adjust the credit of the same, you can claim it as refund and pay service tax for current year !!!

if the assessee is having centralised registration then will excess amount be adjusted in next financial year

Excess payment can be adjusted against next payment only subject to maxm of Rs.2L

Dear Sir.

As per sub-rule 4A of Rule 6 of Service Tax Rules, where an assessee has paid excess servixe tax towards a particular month or a quarter, such excess payment can be adjusted by him against his liability for the succeeding month or quarter subject a celing limit of Rs.2/- Lakhs(wef 01/04/2011).

In case of assessee having centralised registration, there is no monetary limit to adjust the excess service tax paid but the same has to be adjusted against the service tax liability of next month or quarter as the case may be.