AP Power Development Co (AAR – ANDHRA PRADESH)

AP Power Development Co (AAR – ANDHRA PRADESH) :BRIEF : Liquidated damages paid by defaulting party to non-defaulting party for tolerating act of non performance or breach of contract have to be treated as consideration for tolerating an act or a situation under an agreement, thus, liquidated damages collected by applicant from Chettinad logistics private limited for non-performing of job assigned constitutes as supply as per section 7 and are exigible to tax at 18 % MATTER : Supply – Liquidated...

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