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GST on penalty for late delivery of goods - Goods and Services Tax - GSTExtract XYZ is recovering amount from supplier as penalty towards late delivery of goods. Is XYZ required to pay GST on the amount recovered in view of the clarification issued by CBIC vide its Circular No. 178/10/2022-GST [F. NO. 190354/176/2022-TRU], DATED 3-8-2022 . My view is not required to pay as per the clarification given in para 7 of the circular under liquidated damages . Views of the experts please.
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