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of <h1>Assessees must deposit collected service tax u/s 73A, regardless of turnover or small service provider exemption.</h1> An assessee is obligated to deposit collected service tax with the Central Government under Section 73A of the Finance Act, 1994, even if their turnover falls below the taxable threshold and they are availing of the small service provider exemption. This was affirmed in cases such as Modern Co-Op. Bank Ltd. and Pandurang Travels, where it was ruled that failure to deposit collected service tax constitutes a grave error and subjects the assessee to penalties. The obligation to deposit arises regardless of the turnover status if the service tax has been collected from customers.
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