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Service Tax calculations...

Neema Agrawal (Sr. Executive - Finanace and accounts) (28 Points)

18 June 2009

Dear All,

I am new joinee of this club and I feel this is the blessing for me from GOD.F

Further I have calculated servicetax as per the rules and regulation and paid also but the amount does not match with account which I have paid to the gov.

I have calculated the service tax amount manually and I maintain my account in Tally 9ERP.

You are just help what I should do for this problem

Regards,

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8 Replies

Sorabh Gupta (Manager ( Taxation )) (877 Points)
Replied 19 June 2009

Neema

You query is little bit confusing can you give some facts & figures so that we can discuss in more comprehensive manner......

Neema Agrawal (Sr. Executive - Finanace and accounts) (28 Points)
Replied 19 June 2009

Originally posted by :Sorabh Gupta

Neema
You query is little bit confusing can you give some facts & figures so that we can discuss in more comprehensive manner......

Dear Sir,

Thank you very much for look at me for the help. Actually when i had calculated sercvice tax manually the amount is around 2,46,000/- and when I tally the figure with my account which I had maintained in Tally 9 the figure is 1,77,000/-so I think paid excess amount of Rs. 69,000/- please help me.

Sorabh Gupta (Manager ( Taxation )) (877 Points)
Replied 19 June 2009

Its not an issue neema.

If you paid the excess amount then firstly show the excess amount in ur return also and adjust the same with the payment of next month.......

I think ur query is reolved if not then pls let me know............

Yashpreet (68 Points)
Replied 20 June 2009

Originally posted by :Sorabh Gupta
"	Its not an issue neema. If you paid the excess amount then firstly show the excess amount in ur return also and adjust the same with the payment of next month....... I think ur query is reolved if not then pls let me know............	"

hello mr gupta

i think if we paid the excess amount then only we have an option to claim refund

because the adjustment facility is only available id we didnot provide the services

for which we hve paid service tax

Sorabh Gupta (Manager ( Taxation )) (877 Points)
Replied 20 June 2009

Mr yashpreet

I m not denying the faclilty of refund , this facility os also available to assessee , but this process is too long & time consuming . Infact it is unanimously known that " REFUND FROM GOVT. POCKET IS NOT AN EASY TASK"

So you can just adjust the same in next month payment because adjustment faclilty is available to assessee.

Thanks

Neema Agrawal (Sr. Executive - Finanace and accounts) (28 Points)
Replied 20 June 2009

Originally posted by :Sorabh Gupta

Mr yashpreet
I m not denying the faclilty of refund , this facility os also available to assessee , but this process is too long & time consuming . Infact it is unanimously known that " REFUND FROM GOVT. POCKET IS NOT AN EASY TASK"
So you can just adjust the same in next month payment because adjustment faclilty is available to assessee.
Thanks

Dear Sir,

Thank you very much for your quick and positive response I will check once again entries and then proceed for the next month accordingly.

Once again thankyou very much sir,

I am too much greatful to you.

Regards,

Neema Agrawal

Sorabh Gupta (Manager ( Taxation )) (877 Points)
Replied 20 June 2009

Your welcome Neema..........

Regards.

Sorabh Gupta

Madhukar N Hiregange (Chartered Accountant) (38934 Points)
Replied 20 June 2009

Mr. Gupta has hit the nail on the head. Any excess of ST paid can be shown as excess ( provision in the ST-3 returns also exists) and adjust in the subsequent month. Refund can be avoided.