Thanks in advance for your valuable input on the following issue: In FY 2015-16 Service Tax liability for Oct'15-Mar'16 period was Rs.2,50,000/- . Input credit was adjusted to the tune of Rs. 1,15,000/-. However total payment made in cash Rs. 2,50,000/- in Apr'16(including interest of Rs.1225/-). Half Yearly Return for the same period has been filed accordingly. My question is that whether such excess payment of Rs. 1,13,775/- (250000-115000-250000+1225/-) can be adjusted against Service Tax liability in FY 2016-17. Please advice
CAclubindia
