Kindly advise me the treatment of service tax received / receivable in excess of our liability in books of account becoz of claiming property tax deduction (in huge amount) against gross rent received.
Meeta (student) (48 Points)
18 December 2012Kindly advise me the treatment of service tax received / receivable in excess of our liability in books of account becoz of claiming property tax deduction (in huge amount) against gross rent received.
Piyush Sancheti
(HEAD TAXATION CHEMICAL MFG CO)
(307 Points)
Replied 18 December 2012
u hv to deposit it with the Govt. S T Dept. excess amount collected under the head of Service tax .
then only that person whose S T deducted in excess he can claim refund of that. in same way like TDS under I T ACT.
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
