What are the consequences of the following :
Say A service provider has collected service tax on exempted items . Should he remit to the department ? or is there any penalty for the act commited ?
2 Replies
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 17 November 2011
Collecting tax on exempted service and withholding the same may attract prosecution. Either refund to the party or pay to government.
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