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Tds receivable - service tax impact

Tax queries 416 views 4 replies

Assessees who are paying Service Tax on receipt basis sometimes know about the TDS dedcuted from their Income only at the year end from 26AS or even later at the time of filing the Income Tax Return.

This TDS must have also been a part of the Income which was assessed for Service Tax purposes. Since it was not known at the time of ST payment (on account of various reason viz oversight, lesser control), the Value of Taxable Services was understated.

In this case, what can be the possible options to rectify the situation?

Replies (4)

Dear Alamelu Lakshmi,

Is in simple terms is your qn "Short payment of ST" ? 

In Case of Short payment of ST, pay the shortage along with Interest. And File Revised Return if possible.

In case the time for filing the revised ST return has expired? 

In case the time for filing the revised ST return has expired? 

You can pay the shortage as Arrears in ST in the subsequent ST3 return. 


CCI Pro

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