Question

    If a corporate assessee has paid Rs. 15,000 as excess

    service tax during the previous half-year ending period, this excess amount can be adjusted against its subsequent tax liability:
    A equally every month Correct Answer Incorrect Answer
    B equally per quarter Correct Answer Incorrect Answer
    C equal to the service tax liability Correct Answer Incorrect Answer
    D equally on half-yearly basis Correct Answer Incorrect Answer

    Solution

    Where an assessee has paid to the credit of Central Government any amount in excess of the amount required to be paid towards service tax liability for a month or quarter, as the case may be, the assessee may adjust such excess amount paid by him against his service tax liability for the succeeding month or quarter, as the case may be.

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