excess payment of service tax
This query is : Resolved
Shankar Lal Daruka
(Querist)
28 June 2007
Assessee paid service tax of RS. 70000/- instead of liability of RS. 14000/-. How Assessee get the refund of the difference amount and if adjustment posibble how do that as the difference amount will not exhausted in next one or two year?
CA PAVAN KUMAR
(Expert)
30 June 2007
Accrding to Sec.73B of the FINANCE ACT,(corresponding to Sec.11DD of C.E. Act )
any amounts paid in excess can be claimed refund. Also interest can be recd. on the above amount.Present rate of int. is 13% p.a.(Notfication no.8/2006)
any amounts paid in excess can be claimed refund. Also interest can be recd. on the above amount.Present rate of int. is 13% p.a.(Notfication no.8/2006)
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