TMI BlogLevy of GST on receipt of compesation / award - amount for settling a dispute arising out of breach of...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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
