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

[PAWAN KUMAR]

Dear Sir,

As per my view, you have paid service tax in advance and adjusted some of the tax. you can mention the same in the section provided for advance tax payment of ST-3.

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.