Liquidated damage, debit note in foreign trade

202 views 3 replies

Foreign supplier raises debit note towards liquidated damage for delayed supply and commissioning at Indian site,,outside letter of credit.

As Indian importer, what compliance obligation to discharge besides GST liability etc.

Please guide

Jayanta Bandyopadhyay

Howrah

26.8.21

21

Replies (3)
I think so it is account as importation services and you will have pay gst on such services under RCM.
RCM is applicable

RCM for import of service will be applicable @ 18%

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