28 October 2010
The Developer received booking amount from the Flat Holder of Rs. 100,000/- and Service Tax @2.757% of Rs. 2757/- and Service Tax deposited in Government Account. After six month the said Flat Holder cancel the Flat and Developer return Rs. 102757/- to the Flat Holder.
Now my question is.. Can the Developer take credit of Rs. 2757/-? Or What is the Effect on Account book?
CAclubindia
