4.1 Prior to amendment, Rule 6(4A) read with rule 6(4B) allows the adjustment of excess service tax paid for a month or quarter, as the case may be, subject to following conditions:
- Reason for adjustment: Adjustment shall be possible if excess payment of service tax for a month/quarter (as the case may be) shall be for any reason other than following:
- wrong interpretation of law;
- Taxability, classification or valuation of taxable services;
- Applicability of any exemption Notification
4.2 Amendment: W.e.f. 01.04.2012, rule 6(4B) has been amended vide notification no. 3/2012 dated 17.03.2012 to remove conditions mentioned in column 2 & 3 hereinabove. Now, adjustment of excess payment of service tax made can be adjusted without any monetary limit. Further no intimation is required to be filed with Superintendent. However, adjustment of excess payment made shall be reflected in service tax return of the assessee.
By CA. Vikas Khandelwal, Website: www.vkcca.com ,Ph: 011- 27356481,