Gst on liquidated damage
This query is : Resolved
07 December 2017
Sir,
Please suggest whether gst is payable on liquidated damage(as per our purchase order) deducted from vendor's bill amount due to delay in supply of materials by vendor. Regards, Mrutunjay Nayak Asst.Manager-Finance
CMA Mrutunjay Nayak
Asst.Manager(Finance)
Please suggest whether gst is payable on liquidated damage(as per our purchase order) deducted from vendor's bill amount due to delay in supply of materials by vendor. Regards, Mrutunjay Nayak Asst.Manager-Finance
CMA Mrutunjay Nayak
Asst.Manager(Finance)
07 December 2017
GST applicable on gross value of supplies. No reduction in GST is allowed for liquidated damages deduction.
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