Sunil Singla (Student) (77 Points)
20 September 2008In a club member booked a hall on 25.09.2008 for the dated 10.11.2008. Club debited the member account with hall charges and service tax and deposit the tax on 05.10.2008 to deptt. But member cancelled the booking of hall on 25.10.2008. Then club reverse the charges (hall charges+tax) into member account. Please tell me that can club adjust the amount of service tax against further service tax or not?
gourav
(student)
(60 Points)
Replied 20 September 2008
Yes, the club can get credit of the same for its future transactions related with. But from my point of the club need not to deposit any sevice tax until they did not receive payment for the same.
CA Thomas Raju Paravada
(Chartered Accountant)
(570 Points)
Replied 20 September 2008
Sunil Singla
(Student)
(77 Points)
Replied 20 September 2008
Dear gourav, In club there is a credit facility for the members. Sometime members deposit the amount after a long period. Means after 1-2 years. can i wait for their payment and not deposit the tax untill received the payment.
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