https://www.taxtmi.com/caselaws?id=446326 CESTAT Chennai held that service tax was payable on advance payments of Rs.37,55,76,899/- received by the assessee in the tax period, regardless of when consideration accrued. The tribunal directed the adjudicating authority to examine whether these amounts were subsequently refunded or already taxed in later periods to avoid double taxation. However, unbilled revenue of Rs.23,75,85,656/- representing services performed but not yet invoiced or due for payment could not be taxed until actual receipt. The assessee was entitled to utilize CENVAT credit for tax payments. Appeal was partly allowed with matter remanded for examination. en-us Thu, 30 Nov 2023 00:00:00 +0530 Fri, 01 Dec 2023 09:27:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446326 CESTAT Chennai held that service tax was payable on advance payments of Rs.37,55,76,899/- received by the assessee in the tax period, regardless of when consideration accrued. The tribunal directed the adjudicating authority to examine whether these amounts were subsequently refunded or already taxed in later periods to avoid double taxation. However, unbilled revenue of Rs.23,75,85,656/- representing services performed but not yet invoiced or due for payment could not be taxed until actual receipt. The assessee was entitled to utilize CENVAT credit for tax payments. Appeal was partly allowed with matter remanded for examination. Case-Laws Service Tax Thu, 30 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446326