Appellant Wins: No Obligation to Reverse Input Tax Credit for Liquidated Damages Deductions, AAR Ruling Overturned.

Appellant Wins: No Obligation to Reverse Input Tax Credit for Liquidated Damages Deductions, AAR Ruling Overturned. https://www.taxtmi.com/highlights?id=53878 Reversal of Input Tax Credit (ITC) - o deduction on account of liquidated damages from supplier’s dues - the Appellant was rightful in challenging the ruling pronounced by AAR in this regard, and accordingly, they are not required to reverse the ITC on account of the deduction of L.D. from the payment made to the suppliers. en-us Tue, 30 Jun 2020 13:05:41 +0530 Tue, 30 Jun 2020 13:05:41 +0530 TaxTMI RSS Generator Appellant Wins: No Obligation to Reverse Input Tax Credit for Liquidated Damages Deductions, AAR Ruling Overturned. https://www.taxtmi.com/highlights?id=53878 Reversal of Input Tax Credit (ITC) - o deduction on account of liquidated damages from supplier’s dues - the Appellant was rightful in challenging the ruling pronounced by AAR in this regard, and accordingly, they are not required to reverse the ITC on account of the deduction of L.D. from the payment made to the suppliers. Highlights GST Tue, 30 Jun 2020 13:05:41 +0530 https://www.taxtmi.com/highlights?id=53878