GST on Compensation: Liquidated Damages, Trade Settlements & Contract Breaches

By Editor4 Goods and Services Tax Judiciary December 21, 2023

Case Name: In re South India Krishna Oil & Fact Pvt Ltd (GST AAR Andhra Pradesh)
Appeal Number: Only available for paid members
Date of Judgement/Order: Only available for paid members
Courts: AAR Andhra Pradesh, Advance Rulings

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Advertisement In re South India Krishna Oil & Fact Pvt Ltd (GST AAR Andhra Pradesh) In a significant ruling by the GST Authority for Advance Rulings (AAR) Andhra Pradesh, the taxability of compensation amounts, including liquidated damages, trade settlements, and damages collected for non-performance of contractual obligations or breach of the contract, was closely examined in the case of M/s. South India Krishna Oil & Fats Pvt Ltd. Background and Legal Framework The case hinges on the interpretation of the Central Goods & Services Tax Act, 2017 (CGST Act) and the Andhra Pradesh...

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