TMI BlogNon-lifting of agreed quantityX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Expert, The buyer has agreed to pay selling price minus cost of secondary packing ect exp which mutually agreed for not lifting the agreed quantity and the material will be destroyed in the sup ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ervision of buyer. Now my query is in which account the said receipts to be booked as liquidated damages or penalty or in any other account. Whether this amount attracts service tax or not. Please ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... give your reply immediately along with name of service/section in which this fall. Regards, WADHWA - Reply By S.C. WADHWA - The Reply = Dear Expert, Is it possible to raise invoice on buyer with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agreed amount with charging of full rate of CST @5.25% and in some other case Excise duty @ 2% also. The material will be destroyed in the supervision of buyer being got expired. In this way taxes in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... one case 14.5% minus 5.25%=9.25% and in other case 14.5% minus 7.25% including excise duty=7.25% can be saved. Please give your expert opinion immediately. Regards, WADHWA - Reply By YAGAY AND SU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... N - The Reply = On LD Service Tax is applicable. If goods are not fit for consumption, then, you may also seek permission to remission of duty. - Non-lifting of agreed quantity - Query Started By: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - S.C. WADHWA Dated:- 28-2-2016 Service Tax - Got 2 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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