EXCESS AND SHORT DEPOSIT OF SERVICE TAX

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Dear Sir,

We are air cargo agents and deal with airlines and airlines send their bill/CSR after 45 days.

 Suppose for month of October 2010; we will get the Airlines CSR( Cargo Sales Report ) on 30.11.2010 but for October 2010 service tax due date is 05th of Nov’2010. Then on 5th of November 2011 we deposit on provisional basis.

But the problem is when we get the CSR we find there is deviation in actual and provisional. Sometimes we get that we have deposited excess and sometimes we find that it is short deposit. At the end of 6 months at the time of filling the return we consider all excess and short deposit and after that the difference figure we use to deposit.

 You all are requested to kindly advice me what is the correct way and whether department will consider this excess and short amount adjustments 

Thanks and regards

Pankaj Kumar

9971666236

Replies (1)

 

I suggest you in your trade that always deposit service tax in advance it will give you benefit from penalty or interest after deposit advance service tax inform to central excise superintendent into 15 days.. and adjust this advance service tax at the timing of filing st return…

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