Hi All,
The excess amount of ST paid on 31st march can be adgested in NEXT month/Quarter payment.
My Problem is, If after adgestment in next month/qtr still some amount of ST is balance then whether it can be adgested again in next month/qtr..??
plz reply urgently.. its 24.04.2014 & last date is 25.04.2014
thanks in advance
Dear
Excess paid ST can be adjusted and carried forward only in cases like :
1) Excess Payment since exact amount to be paid could not be caculated
2) When tax is to be paid by 31st March and caculation of exact amount is practically not possible, and
3) Calculation mistakes.
So you can make self adjistment by referring your case to above mentioned points.
Again, adjustment can be made in the suceeding month or quarter Their is no limit.
But i can't understand why you have paid so excess that after meeting liability of next month it will be remain unutilised. ?.
Thanks,
Sir,
Yes, By mistake we have deposited such a amount in multiple of actully to be paid.
So, please let me know whether it can be utilized in 2nd succeding quarter if some amount remain un utilized after adjusting in next quarter.
means In short, The Excess amount paid on 31.03.2014 for 4th Quarter of FY13-14 can be utilized in 1st quarter and then again in 2nd quarter of FY 14-15
Please reply sir.
Thanks in advance
CAclubindia
