Wrong value mention in Service tax return

[RAM SHARMA]

Dear Experts,

We have mention wrong value in service tax return by mistake but service tax paid on actual value in 2007-08. Now it is very difficult to reconcile st-3 value with balace sheet. Pl tell me how can i face service tax department.

Thanks 

AI Summary

Taxpayer Seeks Advice on Correcting 2007-08 Service Tax Return Error, Experts Suggest Different Approaches An individual mistakenly reported an incorrect value in their service tax return for 2007-08, though the tax was paid on the correct amount. They seek advice on reconciling this discrepancy with their balance sheet. One expert suggests filing a corrected return with a covering letter explaining the error, emphasizing no revenue loss. Another advises approaching the Commissioner with all relevant facts since a revised return cannot be filed now, warning that an audit could lead to an additional tax demand. The third expert supports the latter approach, recommending keeping a record to prevent further legal issues.