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GST on liquidated damages to be awarded by ICC
Case Law Details
- Case Name
- n re M/s. North American Coal Corporation India Pvt. Ltd. (GST AAR Maharashtra)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- AAR Maharashtra, Advance Rulings
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In re M/s. North American Coal Corporation India Private limited (GST AAR Maharashtra)
1. Whether liquidated damages that may be awarded to the Applicant by the International Chamber of Commerce (“ICC”) qualifies as a ‘supply’ under the Goods and Services Tax (“GST”) law, thereby attracting the levy of GST ?
Answer – The consideration that may be awarded to the applicant by the ICC would qualify as supply of service as per Section 5(e) of Schedule II of Section 7(1) of the CGST Act as per detailed discussions above in this regard.
2. I...
What is status when Indian Supplier has to pay to its Foreign Buyer towards Liquidation Damages , whether the RCM is Payable ? Tks
What is the status of RCM/GST when the Indian Exporter has to pay liquidation Damages to its Foreign Buyer . Kindly guide tks