It is a new company, started 9 months back, where in he could get few orders from a single client,the client made the late payment of the bill which includes the service tax. due to such delay in payments my business suffered huge loss and since i borrowed the money from my relatives and friends,i used the service tax money to clear the debts, since the company does not have the business, and looking forward to advise how to not pay the service tax, since i already utilised the amount.
15 August 2013
It seems that you are registered under service tax and therefore, withholding the tax collected by you will lead you to pay interest, penalty and also face prosecution.
CAclubindia
