Service tax in case invoices are cancelled or dn raised
This query is : Open
07 May 2013
Dear Experts,
There is a company selling internet domains (.com, .in etc). It raise invoice to its clients and pay service tax on the same. Now my queries is:
1. Say if it raised Invoice (for Rs. 10,000) in the month of April paid service tax (1236) on the same and now in the month of May the same invoice is cancelled and the money (including service tax) is refunded to client. If Total invoicing of May is 110,000 can this cancelled invoice be adjusted and service tax be paid on 100,000 (110,000-10000)?
There is a company selling internet domains (.com, .in etc). It raise invoice to its clients and pay service tax on the same. Now my queries is:
1. Say if it raised Invoice (for Rs. 10,000) in the month of April paid service tax (1236) on the same and now in the month of May the same invoice is cancelled and the money (including service tax) is refunded to client. If Total invoicing of May is 110,000 can this cancelled invoice be adjusted and service tax be paid on 100,000 (110,000-10000)?
07 May 2013
yes, you can adjust rs. 10000 against service tax liability of the month of may.
15 May 2013
Dear Navin ji, thanks for your reply. My I request to quote some legal provisions.
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