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CHEQUE RETURN PENALTY SERVICE TAX

Service Tax - Started By: - george thomas - Dated:- 11-2-2016 Last Replied Date:- 14-2-2016 - Dear SirOur Company is engaged in Trading of Edible oil by appointing CFA OR Trade Associate .After the sales we are receiving Cheque payments .As per the Agreement if cheque is bounced more than 2 times we have the right to collect cheque return penalty charges also along with the invoice amount. Plz clarify whether service tax liability is there for the Cheque Return Penalty charges collected from the .....

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e) agreeing to the obligation to refrain from an act, or to tolerate an act or a situation, or to do an act; would be applicable on this transaction. - Reply By KASTURI SETHI - The Reply = M/s. YAGAY AND SUN, Dear Sirs, With due respect, I differ with you on this issue. In this case, penalty charges recovered due to bouncing of cheque pertain to sale of edible oil and not to providing taxable service. CFA is not in picture. Had the penalty charges pertained to taxable service, Section 66 (E)(e) .....

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