GST on differential payment on Settlement, Washout or Closure of Cotton Purchase / Sale Contract

In Re Louis Dreyfus Company India Pvt. Ltd. (GST AAR Punjab) Applicability of GST on the differential payment received by a party to the aforesaid contract from the other party to the contract is event of ‘Settlement’, ‘Washout’ or ‘Closure’ of Contract by it? In the present case, there is clearly an agreement between the contracting parties to refrain from bringing in arbitration, which is also built in the contract, if the contract is settled by payment of agreed amount of monies. Therefore, this activity can clearly be considered as supply of service by &...