Anti-profiteering obligations survive business demerger, complaint withdrawal, and customized supply arrangements where rate-reduction benefits are no...
Road restoration charges constitute taxable services when requested for commercial pipeline activity, requiring reverse-charge GST from the business r...
Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
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ANP demanded settlement fees from appellant following breach of Production Sharing Contract (PSC). The AAAR determined that USD 80,000,000 payment constituted liquidated damages for PSC breach, not consideration for services. The payment was made to compensate losses under clause 4.5(a)(iii), with no evidence of agreement for ANP to perform, refrain from, or tolerate specific acts in exchange. Following established principles on liquidated damages, such payments represent mere flow of money without constituting consideration for supply. The AAAR overturned previous ruling which incorrectly characterized payment as service-related. Appellant not liable for GST on settlement fees as payment qualified as damages rather than consideration for supply under GST framework.
ANP demanded settlement fees from appellant following breach of Production Sharing Contract (PSC). The AAAR determined that USD 80,000,000 payment constituted liquidated damages for PSC breach, not consideration for services. The payment was made to compensate losses under clause 4.5(a)(iii), with no evidence of agreement for ANP to perform, refrain from, or tolerate specific acts in exchange. Following established principles on liquidated damages, such payments represent mere flow of money without constituting consideration for supply. The AAAR overturned previous ruling which incorrectly characterized payment as service-related. Appellant not liable for GST on settlement fees as payment qualified as damages rather than consideration for supply under GST framework.
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TaxTMI 
TaxTMI 
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