wrongly extra service tax paid for the m/o nov,2012

This query is : Resolved

SATYENDRA KR. GUPTA (Querist)
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07 December 2012 Dear all,

What is the right way of presentation in the books of accounts & service tax return of 3rd quarter F.Y 2012-13 in respect of the subject query.

Thanks

SKG

Viral Vora

Viral Vora (Expert)
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07 December 2012 service tax is wrongly paid - then refund is to be claimed. Hence it will be shown on assets side under the head Current Assets.

service tax is excess paid - then it will set off against liability of next quarter . Hence it will be shown as negative under current liabilities