India Optel Limited ., In re
Date: August 1, 2023
Subject Matter
GST is applicable on Liquidated Damages recovered from the vendors failure to deliver goods on time
Summary
The case law discusses a scenario where a manufacturing entity deducts Liquidated Damages (LD) from vendors in the event of their failure to deliver goods by specified dates. The entity sought clarification on the taxability of such liquidated damage…
FULL TEXT OF THE ORDER OF APPELLATE AUTHORITY FOR ADVANCE RULINGS, UTTARAKHAND This is an application under Sub-Section (1) of Section 97 of the Central Goods & Service Tax Act, 2017 and Uttarakhand State Goods & Service Tax Act, 2017 (hereinafter referred to as CGST/SGST Act) and the rules made there under filed by M/s India Optel Limited, OFIL Campus, Corporate Office, Raipur,…