Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Recoveries from transporters for transit loss, damage, shortage, contamination, theft, delay and negligence were treated as liquidated damages arising from breach or non-performance of the transport contracts. Because the contracts themselves allocated liability for losses and provided for deduction and recovery, the amounts were compensatory rather than payment for any independent service. Applying Circular No. 178/10/2022-GST, the Authority held that where payment merely compensates injury or loss and there is no agreement to tolerate an act, refrain from an act, or do anything in return, it is not consideration for a supply. The recoveries were therefore outside GST as non-taxable and not a supply of services under para 5(e) of Schedule II.
Recoveries from transporters for transit loss, damage, shortage, contamination, theft, delay and negligence were treated as liquidated damages arising from breach or non-performance of the transport contracts. Because the contracts themselves allocated liability for losses and provided for deduction and recovery, the amounts were compensatory rather than payment for any independent service. Applying Circular No. 178/10/2022-GST, the Authority held that where payment merely compensates injury or loss and there is no agreement to tolerate an act, refrain from an act, or do anything in return, it is not consideration for a supply. The recoveries were therefore outside GST as non-taxable and not a supply of services under para 5(e) of Schedule II.
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