43B will attract?
This query is : Resolved
25 September 2008
If an assessee has not paid service tax before due date and also remain unpaid upto date of audit report, but provision for payment has been created. whether it will attract 43B? or not? or if they pay with in filing of return they can claim?
Guest
Guest
(Expert)
25 September 2008
Yes it will attract the said section, and the auditer is required to report the same under the tax audit report.
And it can be claimed as deduction is its paid before the filling of return.
CA Rohit
And it can be claimed as deduction is its paid before the filling of return.
CA Rohit
25 September 2008
Dear Bosu, provisions of section 43B are not applicable in respect of service tax. u can go thru recent judgement of Chennai tribunal in case of Real Images.
25 September 2008
I agree with Mr. vineet.
26 September 2008
Hey Vineet can you pls tel me the highlights of such case? or give me reference
04 November 2008
Business expenditure – S.43B – Service tax billed but not received – Service tax becomes payable only on receipt from client – No disallowance can be made u/s.43B – A.Y. 2002-03
ACIT vs. Real Image Media Technologies P. Ltd. (2008) 116 TTJ 964 (Chennai)
Service tax though billed but not received not having become payable to the credit of the Central Government by virtue of s. 68 of the Finance Act, 1994, rwr. 6 of the Service Tax Rules, 1994, same could not be disallowed under section 43B. Further, assessee service provider is merely acting as an agent of the Government and is not entitled to claim deduction on account of service-tax and therefore no disallowance can be made on the analogy of sales-tax, excise duty, etc.
ACIT vs. Real Image Media Technologies P. Ltd. (2008) 116 TTJ 964 (Chennai)
Service tax though billed but not received not having become payable to the credit of the Central Government by virtue of s. 68 of the Finance Act, 1994, rwr. 6 of the Service Tax Rules, 1994, same could not be disallowed under section 43B. Further, assessee service provider is merely acting as an agent of the Government and is not entitled to claim deduction on account of service-tax and therefore no disallowance can be made on the analogy of sales-tax, excise duty, etc.
04 November 2008
the above things only highlights....
in that they never said 43B will not attract service tax....
nw final doubt is whether st wil come under 43B or not...?
in that they never said 43B will not attract service tax....
nw final doubt is whether st wil come under 43B or not...?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
