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LIQUIDATED DAMAGES RECEIVED FROM THE BUYER SERVICE TAX LIABILITY

Service Tax - Started By: - muthu kumaran.vp - Dated:- 20-5-2016 Last Replied Date:- 24-5-2016 - SirI have doubt on liquidated damages.One of my client received Purchase order from the buyer for an amount of ₹ 1,00,000. Based on PO, my client (seller) purchased the raw material and processed the same and manufactured the goods. Now, buyer does not want to buy these manufactured goods and instead buyer promised to pay liquidated damage of ₹ 60,000 for loss occurred to the seller. Now, .....

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muthu kumaran.vp - The Reply = Thank you sir - Reply By Ganeshan Kalyani - The Reply = Sir i remember well that there was healthy discussion on the subject in recent pass. Thanks. - Reply By surya narayana - The Reply = Dear Kasturi Ji,You are exactly right and on similar query different views expressed to arrive at the right clarification.Further, I wish to say that of late , it is being observed that similar issues are raised by various friends though clarifications on such issue/s were given .....

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