https://www.taxtmi.com/forum/issue?id=113139 Whether GST applies where an Indian importer deducts a penalty from a foreign vendor's invoice for late delivery and whether that deduction, paid in foreign currency, constitutes consideration so that the place of supply falls outside India under the place-of-supply rule. Also questioned is whether the taxable value of the import transaction should be reduced by the penalty deduction or remain the full import value for GST and import valuation purposes. en-us Mon, 04 Dec 2017 14:02:50 +0530 Thu, 23 Jan 2025 15:55:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=113139 Whether GST applies where an Indian importer deducts a penalty from a foreign vendor's invoice for late delivery and whether that deduction, paid in foreign currency, constitutes consideration so that the place of supply falls outside India under the place-of-supply rule. Also questioned is whether the taxable value of the import transaction should be reduced by the penalty deduction or remain the full import value for GST and import valuation purposes. Discussion-Forum GST Mon, 04 Dec 2017 14:02:50 +0530 https://www.taxtmi.com/forum/issue?id=113139