Interest on Wrongful Input Tax Credit is mandatory where excess transitional credit was retained and later reversed, and related objections were rejec...
Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
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GST was sought to be levied on liquidated damages received for breach/non-performance under a service agreement. The Court held that such amounts represent compensation for loss/damage payable under ss. 73-74 of the Contract Act and are expressly covered by para 7 (including paras 7.1 and 7.1.6) of Circular No. 178/10/2022, which clarifies that such payments are not consideration for a supply; consequently, the levy proposed in the show cause notice was unsustainable, and the notice was quashed. Amounts collected/paid under protest in relation to such proceedings were directed to be refunded with interest, applying the principle that involuntary collections without authority of law are illegal. - HC
GST was sought to be levied on liquidated damages received for breach/non-performance under a service agreement. The Court held that such amounts represent compensation for loss/damage payable under ss. 73-74 of the Contract Act and are expressly covered by para 7 (including paras 7.1 and 7.1.6) of Circular No. 178/10/2022, which clarifies that such payments are not consideration for a supply; consequently, the levy proposed in the show cause notice was unsustainable, and the notice was quashed. Amounts collected/paid under protest in relation to such proceedings were directed to be refunded with interest, applying the principle that involuntary collections without authority of law are illegal. - HC
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