Re-credit of service tax where ST has been paid on receipt of advance or on accrual basis and where such amount is refunded or services are not provided

Re-credit of service tax where ST has been paid on receipt of advance or on accrual basis and where such amount is refunded or services are not provided https://www.taxtmi.com/manuals?id=383 Where service tax has been paid on advances or on an accrual basis but the service is not provided, is partially provided, or the invoice amount is renegotiated, Rule 6(3) permits the assessee to claim credit for the excess tax and adjust it against subsequent liability provided the payment is refunded or a credit note is issued for the unperformed or deficient service. The rule gains importance in conjunction with the Point of Taxation Rules affecting timing of liability. en-us Fri, 30 Dec 2011 16:54:00 +0530 Tue, 02 Aug 2016 16:16:00 +0530 TaxTMI RSS Generator Re-credit of service tax where ST has been paid on receipt of advance or on accrual basis and where such amount is refunded or services are not provided https://www.taxtmi.com/manuals?id=383 Where service tax has been paid on advances or on an accrual basis but the service is not provided, is partially provided, or the invoice amount is renegotiated, Rule 6(3) permits the assessee to claim credit for the excess tax and adjust it against subsequent liability provided the payment is refunded or a credit note is issued for the unperformed or deficient service. The rule gains importance in conjunction with the Point of Taxation Rules affecting timing of liability. Manuals Service Tax Fri, 30 Dec 2011 16:54:00 +0530 https://www.taxtmi.com/manuals?id=383