Thanks in advance for your valuable input on the following issue: In FY 2015-16 Service Tax liability for Oct'15-Mar'16 period was Rs.2,50,000/- . Input credit was adjusted to the tune of Rs. 1,15,000/-. However total payment made in cash Rs. 2,50,000/- in Apr'16(including interest of Rs.1225/-). Half Yearly Return for the same period has been filed accordingly. My question is that whether such excess payment of Rs. 1,13,775/- (250000-115000-250000+1225/-) can be adjusted against Service Tax liability in FY 2016-17. Please advice
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Excess payment of service tax
Replies (2)
Yes, excess service tax which have been paid you can utilized for the duty of next period. Now you need to revised your service tax return and excess payment of service tax show in the advance column. You can revised your return within 90 days of the file original return.
Thanks for your valuable advice sir..
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