30 May 2013
Export oriented company need not pay any Service Tax provided no services are rendered in India. Accordingly you cannot charge any ST. If you receive any ST refund then in your B/S debit is appearing for ST refund just you credit ST Refund and debit bank. In case you have treated ST as expenses then you have to credit this amount as an income for the current year in which refund has been received.
30 May 2013
Export oriented company need not pay any Service Tax provided no services are rendered in India. Accordingly you cannot charge any ST. If you receive any ST refund then in your B/S debit is appearing for ST refund just you credit ST Refund and debit bank. In case you have treated ST as expenses then you have to credit this amount as an income for the current year in which refund has been received.
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