Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
The AAR held that the amounts received as interest and costs awarded under arbitration do not constitute a supply liable to GST, as the transactions relate to the pre-GST period and fall outside the scope of Schedule II, clause 5(e). The work contract lacked any penalty, compensation, or interest recovery provisions for delayed payments. Consequently, the applicant is not obligated to remit GST on the arbitration-awarded interest and costs. Other related contentions were deemed inapplicable.
The AAR held that the amounts received as interest and costs awarded under arbitration do not constitute a supply liable to GST, as the transactions relate to the pre-GST period and fall outside the scope of Schedule II, clause 5(e). The work contract lacked any penalty, compensation, or interest recovery provisions for delayed payments. Consequently, the applicant is not obligated to remit GST on the arbitration-awarded interest and costs. Other related contentions were deemed inapplicable.
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