Adjustment of excess paid service tax
This query is : Resolved
10 April 2009
if we deposit excess service tax during the year, then can we adjust the excess paid with next year service tax liability?
or it is allowable to adjust only to quarter pertaining the same year? so is it better to adjust, if applicable or file for refund?
or it is allowable to adjust only to quarter pertaining the same year? so is it better to adjust, if applicable or file for refund?
10 April 2009
Self adjustment is possible only in cases like – (a) Excess payment since exact amount to be paid could not be calculated (b) when tax is to be paid by 31st March and calculation of exact amount is practically impossible (c) calculation mistakes.
It is available upto Rs. 50000 and it should be applied for within 15 days of excess payment.
Hence for the whole year adjustment is not possible. However, u can claim for the last quarter.
It is available upto Rs. 50000 and it should be applied for within 15 days of excess payment.
Hence for the whole year adjustment is not possible. However, u can claim for the last quarter.
02 July 2009
Yes you can in the next payment period and limit is raised to 1 Lac from 01.03.2008.
03 July 2009
Yes, as per rule 6(4B)(iii)provides self adjustment of excess amount of service tax paid in certain circumstances with monertary limit Rs.1 lac for subsequent month.
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
