Service tax liquidated damages
This query is : Resolved
SURESH KUMAR.P
(Querist)
16 September 2013
I am working in construction company. We are paid liquidated damages to our customer for the delay in handover period. Kindly confirm we can able to adjust this amount to service tax turnover and liability.
Thanks in advance
Thanks in advance
CA Suresh Jain
(Expert)
22 September 2013
The damages paid by you, in my opinion, is nothing but a refund of or reduction of or discount in price payable by the client and therefore eligible for adjustment.
disclaimer- all answers are given as per the facts narrated by you. Answer may differ after study of full facts/statements/agreements etc. involved in the case
disclaimer- all answers are given as per the facts narrated by you. Answer may differ after study of full facts/statements/agreements etc. involved in the case
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