Advance Payment to Works Contract in ST-3

[ANIL MANTRI]

Sir, the company had made advance payment of ₹ 20 lac for a works contract, and till 31/03/15 work of ₹ 14 lac is completed and bill are received for the same. Sir how to show this in ST-3. The company had paid service tax under reverse charge on ₹ 20 Lac

AI Summary

Guidance on Reporting Advance Service Tax Payment for Works Contract in ST-3 Form: Use Advance Tax Payment Section. A company made an advance payment of 20 lakh for a works contract, with work worth 14 lakh completed and billed by 31/03/15. The company paid service tax under reverse charge on the full 20 lakh. The query seeks guidance on how to report this in the ST-3 form. The response advises that the advance service tax payment should be noted in the section designated for advance tax payments in the ST-3 form.