GST CHARCHA : Whether GST is applicable on liquidated damages recovered for non-performance of a contract?

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Categories: GST CHARCHA
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Non-performance of a contract or breach of contract is one of the conditions normally stipulated in the contracts for supply of goods or services which states that in case any parties breach the contract for any reason(s) including non-performance of the contract, then, such person is liable to pay damages in the form of fines or penalty, normally called liquidated damages (“LD”) to the other party.

Read More at: http://www.a2ztaxcorp.com/wp-content/uploads/2018/05/GST-charcha-LD_24052018.pdf

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