Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
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Taxability - Liquidated damages/ penalties recovered - since, collection of such amount is towards delayed completion of work, which is not a regular phenomenon and arises out of non-performance of the contract in the manner prescribed, on rare occasions, it cannot be said that there are sufficient nexus between the parties on a regular basis for payment of such charges in order to abstain in proper performance of the assigned task within the scheduled time frame - such amount should not be equated with ‘consideration’, for the purpose of rendering any taxable service. - AT
Taxability - Liquidated damages/ penalties recovered - since, collection of such amount is towards delayed completion of work, which is not a regular phenomenon and arises out of non-performance of the contract in the manner prescribed, on rare occasions, it cannot be said that there are sufficient nexus between the parties on a regular basis for payment of such charges in order to abstain in proper performance of the assigned task within the scheduled time frame - such amount should not be equated with ‘consideration’, for the purpose of rendering any taxable service. - AT
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