https://www.taxtmi.com/forum/issue?id=116367 Taxability of compensation for cancellation hinges on whether the receipt is a supply (taxable when it represents toleration of non performance or pre agreed consideration) or true compensatory damages outside the supply doctrine; if raw materials remain with the taxpayer and are kept for future exports, no reversal of Input Tax Credit is generally indicated, and the finished goods can later be exported under IGST or under LUT without IGST, subject to procedural compliance. en-us Fri, 05 Jun 2020 12:29:01 +0530 Thu, 23 Jan 2025 15:54:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116367 Taxability of compensation for cancellation hinges on whether the receipt is a supply (taxable when it represents toleration of non performance or pre agreed consideration) or true compensatory damages outside the supply doctrine; if raw materials remain with the taxpayer and are kept for future exports, no reversal of Input Tax Credit is generally indicated, and the finished goods can later be exported under IGST or under LUT without IGST, subject to procedural compliance. Discussion-Forum GST Fri, 05 Jun 2020 12:29:01 +0530 https://www.taxtmi.com/forum/issue?id=116367