excess amount of collected.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2010 A person collected the service tax at rate of 12 per cent instead of 10 per cent (including of 2 per cent EC and 1 per cent SHEC)? What would be the treatment regarding service tax provisions?

CA Sanat Pyne

CA Sanat Pyne (Expert)
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02 August 2010 If possible then assessee should issue credit note and refund the excess service tax amount (Including EC and SHEC) to the service receiver. But if it is not possible to issue a credit note then the same amount should be deposited with the government account on due date and also such amount should also be declared in ST-3 return in 12 percent column with a suitable note.