DEAR SIR
A LARGE EPC CONTRACTOR RECEIVED ADVANCE FROM IT'S CONTRACTEE FOR ESTABLISHING A PLANT.
HE PAID THE SERVICE TAX ON WHOLE AMOUNT RECIEVED AS PER THE LAW.
NOW IN THE SUBSEQUENT PERIODS (MORE THEN 1 YEAR LONG) WHILE EXECUTING THE SAME PROJECT HE IS RECEIVING INPUT SERVICES/GOODS ON WHICH CENVAT CREDIT IS AVAILABLE.
HOW WILL HE GET THE CREDIT OF CENVAT? SHOULD HE ADJUST IT WITH FUTURE RECEIPTS OR APPLY FOR THE REFUND CLAIMS?
WHAT IF THE WHOLE AMOUNT IS RECEIVED IN ADVANCE?
Menu
Ser Tax paid on advanace recived
Replies (1)
Advisable to adjust it with future receipt so far possible.
Considering cash flow effects its better to adjust tax payment first then applying for refund.
Recent Threads
- Waste Management services
- Seeking Clarity: New Transport Allowance Limits (D
- Query regarding Consolidated Gift Deed for Bank Tr
- TDS u/s194IB - Joint Ownership
- Free GST Reconciliation Tool in Google Sheets R
- NRI return after due date refund case
- TDS u/s 194J - training honorarium
- WHERE TO REGISTER UNDER PTRC AND PTEC ACTS ?
- Key Corporate Compliance Requirements for Private
- Gst Non Filling Return Notice
Related Threads
CAclubindia
