Service tax on construction industry

This query is : Resolved

shh (Querist)
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30 December 2012 Suppose advance was recd in 2011 on which Service tax was paid @ 10.3% , & now the cancellation has been done in 2012 i.e, when rate of service Tax is 12.36%, the advance Amount has been returned / booking has been cancelled.

What will be the impact of this ?
Will the cenvat credit be available of amount paid earlier ?

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
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31 December 2012 Yes available as a recredit now. Tobe disclosed separately.

shh

shh (Querist)
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31 December 2012 sir but credit will be available of amt originally paid i.e., 10.3% or the prevailing rate 12.36 %.
I suppose 10.3%
Plz Do correct me if I am wrong

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Arun Gulati

Arun Gulati (Expert)
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31 December 2012 yes, 10.3% what you had paid to government.

shh

shh (Querist)
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15 January 2013 SIR FOR COLLECTION OF VAT WE ISSUE DEBIT NOTE TO BUYERS OF FLAT BUT FOR COLLECTION OF SERVICE TAX WHAT SHOULD BE DONE

CAN A NORMAL CASH RECEIPT BE GIVEN STATING THE AMOUNT IS RECEIVED AGAINST SERVICE TAX AS IN CONSTRUCTION INDUSTRY INVOICE IS NOT ISSUED.