Adjustment of excess service tax paid in respect of renting service.
As explained above, for renting service, municipal taxes are excluded while computing the value. However for any reason, if the municipal taxes could not be excluded and thereby excess taxes were paid, the assessee can adjust the excess tax against his tax liability for a subsequent period, but within one year from the date of payment of property tax and such adjustment has to be intimated to the Superintendent within 15 days of adjustment.
Notification No. , Dated May 22, 2007