GST applicable on Liquidated Damages recovered from vendors: AAR Uttarakhand

In Re India Optel Limited (GST AAR Uttarakhand) GST is applicable on Liquidated Damages recovered from vendors: AAR Uttarakhand In the case “In Re India Optel Limited (GST AAR Uttarakhand),” the issue at hand was the applicability of GST on liquidated damages (LD) recovered by M/s India Optel Limited from their vendors. The ruling was sought under Section 97 of the Central Goods and Services Tax (CGST) Act, 2017, and the Uttarakhand State Goods & Service Tax Act, 2017. M/s India Optel Limited, a registered entity with GSTIN 05AAGCI2642P5Z7, engaged in manufacturing and entered ...