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Service tax payment

RUCHI (Chartered Acountant) (101 Points)

28 September 2016

Hi, If services are availed in Financial year 2015-16 and service amount is paid within financial year 2015-16 but service tax is deposited on 24.04.2016 under reverse charge along with interest i.e. after 31.03.2016. Is it possible to show such service tax payment and claim its credit in service tax return filed on 25.04.2016 for half year i.e. October 2015- march 2016. As service tax is paid after the financial year.

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2 Replies

Pyarilal CV (Tax Consultant) (110 Points)
Replied 13 October 2016

Yes you can

Mahendra (Chartered Accountant) (154 Points)
Replied 14 October 2016

No , since the date of payment of challan will be 25.04.2016.

Service tax paid under reverse charge basis will be available as credit on the basis of duty paying document. Since duty paying document is of April 2016, service provider can claim the credit on the basis such duty paying document against the liability of April-2016 or of quarter of April-June 2016.