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Advance Forfieted

Central Excise - Started By: - Amit Nayak - Dated:- 24-1-2017 Last Replied Date:- 24-1-2017 - Dear Sir, in my company ,one party was order to supply the material and we also received advance amount agt po amount ₹ 2800000.after the material is .....

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eply = Sir, The amount forfeited will represent a fee/penalty for tolerating the act non-lifting of the goods from your factory by your customer. Therefore according to Section 66E (e) of Finance Act, 1994 you have deposit the service tax @15% includ .....

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