GST on liquidated damages to be awarded by ICC

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. If the answer to Q...