Levy of GST on receipt of compesation / award - amount for ...

Case Laws GST

June 29, 2023

Levy of GST on receipt of compesation / award - amount for settling a dispute arising out of breach of contract - contract completed during the Pre-GST period - as no supply has happened during the GST regime as per Section 142(10) of the act ibid no GST shall be payable. Further the additional payment received by way of compensation through award by Hon’ble Tribunal for Arbitration is not falling under Section 142(2)(a) and hence not chargeable to GST. - AAR

View Source

← Previous Next →

Levy of GST on receipt of compesation / award - amount for ...

Case Laws GST

June 29, 2023

You may also like:

Nature of amount received as award against damages for breach of contract - capital receipt or revenue receipt - The fundamental right for starting the bottling business...

The High Court addressed various issues in a challenge to a final arbitration award u/s 34 of the Arbitration and Conciliation Act, 1996. The dispute involved deductions...

Levy of GST - Supply or not - compensation amounts such as liquidated damages/trade settlement/damages collected from the customers for non-performing of contractual...

Deduction of 10% of the amount awarded to the award-holder as TDS and payment of the balance amount to the award-holder - Arrears of salary and interest - award-debtor,...

Circular clarifies that insurance companies are not liable to pay GST on salvage/wreck value deducted from claim settlement amount, as salvage remains property of...

The Direct Tax Vivad Se Vishwas Act, 2020 aims to settle tax disputes. The term "appeal" under the Act includes writ petitions challenging tax orders, as per Supreme...

Levy of GST - GST to be paid on Management Fee/Administrative charges only or otherwise complete billing amount - employer portion of EPF & ESl amount of the bill are...

Validity of Arbitral Award - it is alleged that award is in excess of claim - Arbitrator exceeded the scope of reference or not - Arbitrator has rewritten the contract...

Requirement of pre-deposit - Direction to deposit 75% of the awarded amount in terms of Section 19 of Micro, Small and Medium Enterprises Development Act, 2006 -...

Levy of GST above the tender amount - whether the tender amount is inclusive of GST / Taxes or is only a Basic Amount - it is evidently clear that there was no auto...

Initiation of CIRP - Whether the ‘Dispute’ pertaining to the invoice was settled between the parties? - The material on record, specifically the email dated 08.02.2019...

Section 44B is a special provision for computing profits and gains of shipping business for non-residents at 7.5% of specified amounts like freight receipts. The issue...

Validity of award of interest by the sole arbitrator - earnest money and security deposits or not - The learned Arbitrator in the instant case has erred in awarding...

Penalty u/s. 272A(2)(k) - Assessee had not offered any reasonable cause for delay in filing of TDS statements u/s. 200(3) - The default committed by the assessee is only...

Levy of GST - Pure Agent - 1. TLEF is pure agent of Industry Partner to the extent of reimbursement of the actual amount Stipend incurred by it and thereby said...

Quick Updates: