13 April 2010
Where an assessee has paid to the credit of Central Government any amount in excess of the amount required to be paid towards service tax liability for a month or quarter, as the case may be, the assessee may adjust such excess amount paid by him against his service tax liability for the succeeding month or quarter, as the case may be, subject to the following conditions:-
1)Excess amount paid is on account of reasons not involving interpretation of law, taxability, classification, valuation or applicability of any exemption notification, 2)Excess amount paid by an assessee, on account of delayed receipt of details of payments towards taxable services may be adjusted without monetary limit, 3)In other cases the excess amount paid may be adjusted with a monetary limit of Rs. 100,000/- for a relevant month or quarter, as the case may be, 4)The details and reasons for such adjustment shall be intimated to the jurisdictional Superintendent of Central Excise within a period of 15 days from the date of such adjustment.”.
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