a parnership firm(export oriented) on which RCM is not applicable for a paricular service , has wrongly deposited service tax under RCM, because of he cannot claim input, he want to now refund for such amount, please decribe the process for such refund
Let them file a refund claim under the provisions of Sec 11B of the Central Excise Act, 1944 read with Sec 83 of the Finance Act, 1994. Time limit is 1 year from the date of payment. There is a provison to adjust the excess paid service tax to the subsequent liability in terms of Rule 4B of Service Tax Rules,1994, provided the conditions specified therein are to be satisfied.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
