Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
The Advance Ruling Authority determined that the levy of GST on liquidated damages constitutes a supply of service under the Central Goods and Services Tax Act. Liquidated damages received for breach of contract or non-performance are considered income and fall under the definition of consideration for tolerating an act, thereby attracting GST. The imposition of compensation or penalty is governed by the Indian Contract Act to prevent defaulting acts. Compensation for tolerating non-performance constitutes a supply of service, making such payments subject to GST.
The Advance Ruling Authority determined that the levy of GST on liquidated damages constitutes a supply of service under the Central Goods and Services Tax Act. Liquidated damages received for breach of contract or non-performance are considered income and fall under the definition of consideration for tolerating an act, thereby attracting GST. The imposition of compensation or penalty is governed by the Indian Contract Act to prevent defaulting acts. Compensation for tolerating non-performance constitutes a supply of service, making such payments subject to GST.
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