excess payment

[arvind malpani]

Sir i have paid the excess service tax and in half yearly return i want to claim the excess amount. in half yearly return the amount of excess where shown.

[Ashok Roy]

Service Tax Return has not any coloum to shown the excess amount but the excess amount will shown in next return in advance coloum. 

[Mahir S]

 Yes, the excess Service Tax Credit can be adjusted.

As per Rule 6(1A) of  service tax rule 1994, Service Tax can be paid in advance to the credit of the Central Government and adjust the amount so paid against the service tax which he is liable to pay for the subsequent period. The assessee is required to intimate the details of the amount of service tax paid in advance to the Jurisdictional Superintendent of Central Excise/Service Tax within a period of 15 days of such payment and indicate the details of the advance payment made, and its adjustment, if any in the subsequent return to be filed under Section 70 of the Act.

AI Summary

Advance service tax payment can be adjusted against subsequent liabilities; taxpayer must notify authorities and report adjustment in next return. Excess service tax paid functions as an advance payment that can be adjusted against later service tax liabilities; the taxpayer must notify the jurisdictional tax authority within the prescribed short period and disclose the advance payment and any adjustments in the subsequent statutory return, with the excess typically shown in the advance column of that next return.