Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
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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