excess pyt of service tax

This query is : Resolved

gurru (Querist)
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12 October 2009 we are a firm of C&F agent & distributor of petroleum products.we have made excess sevice tax pyt of RS 27000 in FY ending march 2009. i want to whether we can adjust that amt in return of service tax. we have already adjusted that amt in quarterly pyt of service tax but we forget to inform commissioner of service tax within 15 days. what are remedies before us.

CA.Hanumantha Reddy

CA.Hanumantha Reddy (Expert)
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12 October 2009 Rule 6 (4A) and (4B) of Service Tax Rules, 1994 stated that if any excess payment of service tax, assessee may adjust such excess amount paid against service tax liability for the succeeding month or quarter, as the case may be subject to intimation of such details and reasons of such adjustments to the Superintendent of Central Excise.

As per Rule 6 (4A) and (4B) of Service Tax Rules, 1994 you can adjust the excess amount paid in the succeeding month/quarter. Further, the details and reasons for such adjustment shall be intimated to the Superintended of Central Excise (service tax) within a period of 15 days form the day of such adjustment.