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Excess Amount Paid under RCM

Service Tax - Started By: - Vinay Jhawar - Dated:- 27-3-2016 Last Replied Date:- 29-3-2016 - A company had paid its RCM liability under works contract on the basis of Advance Payment made to the contractor and the same have been shown under ST3. Actual work done and invoice received subsequently were less than the amount paid to the contractor. What all needs to be done in this case, for the extra amount discharged under RCM to the government ? - Reply By Ganeshan Kalyani - The Reply = Sir, eith .....

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assessee under RCM Scheme. Any person who is liable to pay tax is an assessee. Rule (4B) says that excess amount paid should not be on account of interpretation of law, taxability, valuation or applicability of any exemption notification. - Reply By KASTURI SETHI - The Reply = No need to inform the department. You will inform the department by way of ST-3 return only.The condition of intimation which was earlier in force, has been dispensed with. I concur with the reply of Sh.Ganeshan Kalyani, S .....

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