https://www.taxtmi.com/forum/issue?id=116619 Settlement payments received for a buyer's failure to take delivery are consideration for tolerating an act and constitute a supply of service, attracting GST at the applicable rate even if the underlying goods are exempt. For pre agreed forward contracts, physical delivery is taxable as supply of goods, while net differential settlement may not attract GST; adjustments to invoiced consideration should be made through credit or debit notes under GST provisions. en-us Thu, 13 Aug 2020 12:59:33 +0530 Thu, 23 Jan 2025 15:54:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116619 Settlement payments received for a buyer's failure to take delivery are consideration for tolerating an act and constitute a supply of service, attracting GST at the applicable rate even if the underlying goods are exempt. For pre agreed forward contracts, physical delivery is taxable as supply of goods, while net differential settlement may not attract GST; adjustments to invoiced consideration should be made through credit or debit notes under GST provisions. Discussion-Forum GST Thu, 13 Aug 2020 12:59:33 +0530 https://www.taxtmi.com/forum/issue?id=116619