Section 15

Priyanka Samuel (30 Points)

15 January 2019  
Mezda Banners, an advertising firm, gives an interest-free credit period of 30 days for
payment by the customer. Its customer ABC paid for the supply 32 days after the
supply of service. Mezda Banners waived the interest payable for delay of two days.
The Department wants to add interest for two days as per contract. Should notional
interest be added to the taxable value?