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More s. tax paid than actual

Queries 481 views 1 replies

Rashmi

Accountant

140 Points Joined January 2013

Hi friends RASHMI again,

An Assessee has paid service tax Rs. 300000/- for 1^st quarter for A.Y. 12-13 and file the return and it has accepted by the department also.

Later the assessee realized, he has paid more tax than the actual liability and now the three month period is over for revise return.

Can he file his 2^nd/3^rd quarter return using the same challan number with actual tax calculation?

My question is what are the provisions available for the assessee to rectify the above mistake?

Early reply is deeply appreciated

Regards

Rashmi

Replies (1)

Rahul Suneja

CA-Final CS-Exec

215 Points Joined September 2011

In case the amount of Service tax has been paid in excess there are two options being available to the Assessee -:

1. Self Adjustement of Service tax against future tax liability .

2. Service tax Refund only if Self adjustement is not possible.

Since the assessee has paid excess service tax in 1st Quarter for A.Y 2012-13, he can now adjust the same in next quarter and pay the service tax on Balance Amt.

The assessee shall reduce his actual service tax liability of Next quarter against the excess rather than using the same challan number as said by You.