GST on compensation received

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..... GST on compensation received
Query (Issue) Started By: - Kaustubh Karandikar Dated:- 30-3-2023 Last Reply Date:- 6-4-2023 Goods and Services Tax - GST
Got 4 Replies
GST
XYZ received a Pur .....

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..... chase Order from the local customer towards supply to be made prior to GST era but order cancelled by the supplier. XYZ filed a legal case against the customer and the verdict was in favour of XYZ. Th .....

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..... erefore, the customer gave the compensation amount to XYZ but during the GST era. Whether XYZ is required to pay GST on the compensation received? Reply By Amit Agrawal: The Reply: NO, in my humble .....

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..... view. These are ex facie views of mine and the same should not be construed as professional advice / suggestion. Reply By Shilpi Jain: The Reply: No liability. Reply By Padmanathan Kollengode: Th .....

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..... e Reply: No GST on the compensation ordered by court Reply By KASTURI SETHI: The Reply: Compensation is not income and no GST is leviable.
Discussion Forum - Knowledge Sharing .....

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