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Applicability Of Service tax on Liquidated Damages

Service Tax - Started By: - abhinav Goyal - Dated:- 27-8-2016 Last Replied Date:- 1-9-2016 - Whether Service tax is chargeable on Liquidated Damages being charged from supplier of goods due to late delivery of material . Liquidated Damages can be cov .....

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oyal Ji, Yes. It is covered under Declared Service under Section 66 E(e) of the Finance Act read with Notification No.30/12- ST dated 20.6.12 (Serial No.10). Service Tax is applicable. This notification answers to your queries. - Reply By CS SANJAY M .....

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gh the below issue id.#1 Issue Id: - 109779 Dated: 23-1-2016Thanks. - Reply By CS SANJAY MALHOTRA - The Reply = Dear Sh Ganeshan Ji, Thanks for taking us back to the service tax on penalty issue. Reference is drawn to ST Circular 192 dated April' .....

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Sanjay Mahlotra ji discussed about the ST Circular 192 dated April'16, specifically para 4 but sir in that circular , only the contracts with government or local authorities are exempted . what about the liquidated damages charged from anyone oth .....

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yal Ji, Pl. refer to your cross query dated 28.8.16. Board's circular No.192/02/ST dated 13.4.16 talks of clarification regard leviability of Service Tax on Service provided by Govt. or Local Authority to a business entity. Title as well as Seria .....

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e laws one is pro-revenue and other pro-assessee depending upon facts of each case. - Reply By CS SANJAY MALHOTRA - The Reply = Dear Sh. Kasturi ji,Thanks for addition and appreciate the same. Hopefully querist issue would have been addressed. - Repl .....

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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 and as per the accounting standards, i .....

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agreed by contract would also attract service tax? The Hon ble Commissioner informed that issues similar to the point raised have been confirmed by him in favour of revenue as the fines, penalties and liquidated damages collected in the course of pr .....

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