I have file the return for my company. While validating the excel file, no errors were detected. But after the retun is filed, the filed return is showing following issues:- 1. SB Cess Paid is less than SB Cess Payable 2. SB Cess Payable is less than SB Cess payable calculated by the system. Differential Amount is Rs. 2/-
25 April 2016
I agree with Mr.Warrier. No action need be taken. In calculating the tax, the amount is rounded off. The assessee may have rounded off a particular payment of Rs.0.50 as the lower sum while the system will compute it as the higher amount - a difference of Re.1/- and so on.
Normally the Department ignores differences below Rs.100/-. Further in the case of Vodafone India vs. Commissioner of Central Excise & Service Tax, the decision was in favour of the assessee for difference in rounding off and the amount of duty involved was approximately 11 / 12 lakhs.
CAclubindia
