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GST on compensation received, Goods and Services Tax - GST

Issue Id: - 118453
Dated: 30-3-2023
By:- Kaustubh Karandikar
GST on compensation received

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XYZ received a Purchase 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. Therefore, the customer gave the compensation amount to XYZ but during the GST era. Whether XYZ is required to pay GST on the compensation received?

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Posts / Replies

Showing Replies 1 to 4 of 4 Records

Page: 1

1 Dated: 31-3-2023
By:- Amit Agrawal

NO, in my humble view.

These are ex facie views of mine and the same should not be construed as professional advice / suggestion.

2 Dated: 1-4-2023
By:- Shilpi Jain

No liability.

3 Dated: 2-4-2023
By:- Padmanathan Kollengode

No GST on the compensation ordered by court

4 Dated: 6-4-2023

Compensation is not income and no GST is leviable.

Page: 1

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