Hi,
An invoice was raised in month of april when the s.t rate was 12.36% but today it has been cancelled when the rate is 14%. How to make the treatment of the same in the service tax return ?
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Cancellation of service tax invoice
Replies (8)
At the rate of 12.36%
Mam rate of Ser.tax is applicable on which month you provide the service so it is 12.36%
Mam rate of Ser.tax is applicable on which month you provide the service so it is 12.36%
The effect is not retrospective hence u cn raise bill of by providing st @ 12.36%
Agree with us
thanks & regards
ramanuj
I know that the rate would be 12.36% but the issue which m facing is elaborated below with an eg.
May- Bill booked Rs. 30000 S.T 3708
Nov- Bill cancelled Rs. 30000 S.T 3708
Billing for the Month of Nov. -70000 S.T @ 14%-9800
Now in return i have to show billing as Rs.40000 (70000-30000) and S.T will automatically be computed as 5600 but in books S.T is Rs. 6092/-
I hope now you all understood my query
As per service tax, you cannot cancell and reverse service tax directly. You shall have to approach service tax officer with request to allow the credit for tax already paid earlier but the invoice has been cancelled and giving the reasons and supporting communications.
If you are utilising input cenvat then one more alternative I can suggest is to raise the credit note @ 12.36% dated May 2015 and revise the ST3 return. You can carry forward the cenvat credit to next return and utilize the same.
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