TaxTMI 
TaxTMI 
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
Advance Payment to Works Contract in ST-3
18 Apr 2015 
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Advance payment under reverse charge: disclose advance service tax in ST-3 and adjust as work is billed.
Tax paid under the reverse charge on an advance for a works contract is to be treated as an advance tax payment and disclosed in the ST-3 return's advance tax payment section; as portions of work are completed and billed the taxpayer may adjust that advance against liabilities and reflect such adjustments in ST-3. (AI Summary)
Tax paid under the reverse charge on an advance for a works contract is to be treated as an advance tax payment and disclosed in the ST-3 return's advance tax payment section; as portions of work are completed and billed the taxpayer may adjust that advance against liabilities and reflect such adjustments in ST-3. (AI Summary)