How to deal with service tax on this

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Hi friends,

Assessees is a service provider, total cost of service provided by him was 50 Lakhs for F.Y.2011-12, and he just received 30 Lakh out it, till end of F.Y.2011-2012, but he has erroneously submitted his return for F.Y.2011-2012 to Service Tax Department without declaring remaining 20 lakh outstanding and service tax is payable on it, and he also submitted his Income Tax Return, and now he has received 10 lakh out of 20 lakhs .

The question is, is there any provision left for the assessees to rectify the above?

Is this possible for the assessees if he wants to pay the service tax on received amount now?

 Regards

Sandeep


 

Replies (1)

Point of taxation is invoice date or date of receipt whichever is earlier. If you have raised bill for the entire sum vefore 31-03-2012, service tax was payable by March itself. Time for revision of return is over. Now you can pay with interest and declare the value in the next ST-3.


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