Dear Friends,
Warm greetings to all of u !!!!
a case has arisen where i m confused whether t.d.s is refundable from govt. or not?
The company made advertisement contract with a concern............. raised a bill for Rs.75000,
deducted T.D.S @ 10% and claimed Service tax credit.............
later on the contract was cancelled
we cancelled the bill through a credit note.... reversing the service tax credit booked..........but could not reverse the T.D.S amt. as it has been paid to govt...... and T.D.S. returns filed............
now the issue is that creditors account is showing a debit balance of rs. 8520.68 on account of T.D.S paid to govt.............
the party is not willing to take T.D.S. certificate and refund the amount...............
In this situation whether we can claim refund from govt...or we should go for write off of the amount..
Please help me with the applicable laws??????
CAclubindia
