Sir
We are manufacturing co, we have already paid 14% Service Tax on Transportation , Security Service and Works Contract, now it is heard that the new rate will be come into effect after enactment of Finance Bill 2015. Now how can the excess payment be adjusted. Please advice me.
With thanks and regards.
Samik Chaudhuri.
Manufacturing Company Seeks Adjustment for Excess Service Tax Payments; Options Include Future Adjustments or Refunds A manufacturing company inquired about adjusting excess service tax payments made at a 14% rate on transportation, security services, and works contracts, anticipating a rate change following the Finance Bill 2015. Two responses were provided: one suggested that the excess payment could be adjusted against future tax liabilities, and if not feasible, a refund could be requested from the tax department. The second response concurred, advising adjustment towards future liabilities. (AI Summary)
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