Incentives received
This query is : Resolved
24 September 2015
sir, I selling goods to one particular party for 5 years, after completion of 5 years the party gives sum amount as Incentive for supply of goods. how to account that incentive amount? and what are the tax implications for that incentives? please clarify
24 September 2015
No need to pay any excise and service tax on incentive received by you.
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