hi
pls clarify me whether cancellation charges are to be treated as liquidated damages??
i couldn't comprehend the conclusion in the recent circular issued by the dept.
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Circular No. 178/10/2022-GST dated: 03.08.2022 cancellation charges cbic circular
Replies (2)
No.... LD charges are not cover under supply definition. its being loss compenciated to recepient. where as the cancellation charges are covered under supply hence taxablr
Holam
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