Please Help: Allowance of Service Tax paid under Audit
Posted Date : 12-May-2012 , 10:06:23 pm | Posted By: CA Bhuvnesh Kumar
Category :
Income Tax | Answers :
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Can expenses of service tax paid dut to audit be allowed or disallowed u/s 43B of Income Tax act for the year of payment |
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Answers:
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 Answer by: May I Help You. |
| ANSWER BY ROHIT GARG:
The correct position vis a vis allowability of service tax and applicability of section 43B is that in case services has been billed but amount not yet recovered,then, the provisions of section 43B do not apply per se. The said section could only be invoked when apart from the billing the amount of service tax is also recovered and the same remained outstanding till the date of filing of return of income....
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| Answer by: May I Help You. |
| Paras R. Pasad :-
Service tax is not covered within he preview of section 43B .ders also case stdy for dis.... Real image media technologies p ltd vs Cit 2008, 114 itd 573 chennai
34 minutes ago via mobile
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| Answer by: May I Help You. |
| Nitish Dwivedi :-
alllowed if actually paid..or if accounts is maintained on mercantile system. claimed on due basis as well
but before date of filing of return
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| Comments |
| Posted By : CA Bhuvnesh Kumar |
14-May-2012, 10:42:40 |
| I want to know that when service tax department held service tax audit of books for some earlier years, assume 5 years, and some service tax liability arises due to that audit which will be paid during the year of audit or after that, than what is scope of allowability of that service tax u/s 43B |
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| Posted By : CA Bhuvnesh Kumar |
14-May-2012, 10:38:57 |
| I want to know that when service tax department held service tax audit of books for some earlier years, assume 5 years, and some service tax liability arises due to that audit which will be paid during the year of audit or after that, than what is scope of allowability of that service tax u/s 43B |
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