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Reversal of st

This query is : Resolved 
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(Querist)
08 December 2014 Sir,

No payment recived from one party.. they are delaying the payment.. can service tax paid on this amount be reversed...??


please comment

regards
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Neljo Davis ACA

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Neljo Davis ACA (Expert)
09 December 2014 Please note that if the amount of invoice is renegotiated due to deficient provision or in any other way changed in terms of conditions of the contract the tax will be payable on the revised amount provided the excess amount is either refunded or a suitable credit note is issued to the service receiver. However, concession is not available for bad debts.
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