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Declared Services - 66E

Service Tax - Started By: - AJAY AGRAWAL - Dated:- 29-7-2016 Last Replied Date:- 29-7-2016 - In many cases, companies are collecting fines, penalties and liquidated damages from their customers for any deficiency of performance or shortfall of supply/contract. These situations are very common and the amount so collected will form part other revenue of the company. My question is:- 1. In such case whether Company has to pay Service Tax u/s 66E(e) ? 2. If yes, whether Company has to get / endorsed .....

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sturi Sir I topic is very interesting. So many queries are receiving on the subject. I think the Govt will notice the validity and amend the provision accordingly. Or a representation may be filed to the Govt requesting to issue clarificatory notification in this regard. Thanks. - Reply By Rajagopalan Ranganathan - The Reply = Sir, Section 66E (e) of finance Act, 1994 stipulates that agreeing to the obligation to refrain from an act, or to tolerate an act or a situation, or to do an act is a  .....

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