Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
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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