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TMI BlogNon-lifting of agreed quantityX X X X Extracts X X X X X X X X Extracts X X X X ..... Non-lifting of agreed quantity X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 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 supervision of buyer. Now my query ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 give your reply immediately along w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ith 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 agreed amount with charging of full rat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 one case 14.5% minus 5.25%=9.25% and in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 SUN: The Reply: On LD Service Tax is applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able. If goods are not fit for consumption, then, you may also seek permission to remission of duty. X X X X Extracts X X X X X X X X Extracts X X X X
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