Page 140 - GSTL_21st May 2020_Vol 36_Part 3

386 GST LAW TIMES [ Vol. 36
6 Interest amount Loan/Advances given to the employees for their
recovered from needs. A nominal Interest is recovered along with
employees monthly EMI amount. (Interest is less than the
Bank Interest).
7. Discount Supply of electricity by KPC to CESC is exempted if
KPC has given certain Discount the same will be
accounted in Books of A/c
8 Rebate Rebate received for settlement of Power purchase
bills in time from the power generator like KPCL
and other power generators.
9 Rebates collected for We purchase Electricity from Power supply Com-
in time payment of pany for distribution. If the payment to the Power
energy purchase bills Supply company is made within the due date for
dues Discount given their energy bills, the Power Supply Company will
by the Power supply give discount/rebate for in-time payment.
company for in-time
payment for energy
bills
10 Income accrued on Due to Power savings by the consumers, the Govt.,
account of energy will give certain incentives. A part of such Energy
savings Savings will be passed on to CESC. The same is
accounted under the head “Income accrued on ac-
count of energy saving”.
11 Incentives received Incentives received from the Power Corpora-
tion/State Govt. from time to time under various
schemes.
12 Rebate on Power Rebate received for settlement of Power purchase
Purchase Bills bills in time from the power Generator like KPCL
and other Power generators.
13 Liquidated damages Miscellaneous recoveries/income related to power
1. Energy purchase purchase. Amount Recovered as Damages from the
bills supplier/vendors due to under/Non-performance
2. Others of the work/Delay in delivery of Goods/Electricity
Delivered less than the stipulated quantity as stipu-
lated in the Power Purchase agreement. The loss to
the company is recovered as damages at the time of
Payment of Bills.
14 Goods given under At the time of Installation/Commissioning of
Barter System Transformers at the Site or at consumer end by the
Contractors, certain material gets short. The items
will be given free of cost to the Contractor by CESC.
Subsequently item will be replenished by the Con-
tractor to CESC
15 Replacement of The defective items like Transformers etc, are re-
Assets during the placed by the supplier of Goods under Delivery

GST LAW TIMES  21st May 2020  140