Service tax Recovery in case of partial payment of invoice
Hi,
Can you let me know service tax recovery is handled in case partial payment is made for AP invoice and balance amount is not paid within 90 days of invoice date. I want know if system would reverse the service tax recovery attributed to invoice amount not paid till 90 days of invoice date. Please refer below example-
Invoice Amount -- Rs 50000
Service Tax - 7000
SBC - 250
KKC - 250
Invoice and GL Date --01 April 2016
Payment Made - Rs 40000
Payment Date -- 20 April 2016
Balance amount is retained for 2 years and will be paid after two years.
Best Regards,
Anil