Respected All,
One of my client has received advance for booking of a flat and collect servive tax on the same & deposited to the central government. But later on, contract were cancelled and booking amount along with ST had been refunded.
Whether assessee can set off ST against future liablity or can claim for refund?
Please provide your valuable suggestion alongwith procedure.
Thanks & Regards,
Ramesh Purbia
Sir,
In this regard you can claim the Refund and same utilized the same for further payment of service tax. You are having the other observation in this regard plz forward the same.
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
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