GST LEVIABLE ON ARBITRATION AWARD

[gunda ashok kumar]

SIR,

GST IS LEVIABLE REGARDING CKONSIDERATION RECEIVED ON WORKS CONTRACT AS PER ARBITRATION AWARD

AI Summary

GST Applicability on Arbitration Award for Works Contract: Compensation for Breach of Contract Not Taxable, More Info Needed A discussion on a forum addressed whether Goods and Services Tax (GST) applies to consideration received from an arbitration award related to a works contract. One respondent requested more details about the nature of the award, noting that compensation for breach of contract does not incur GST liability, while other types may. Another respondent indicated that the query was too brief and requested additional information to provide a comprehensive response.