https://www.taxtmi.com/article/detailed?id=10073 Whether amounts awarded by arbitration for works contracts executed before GST attract GST when received after the appointed day: unpaid contractual amounts, refunds of excess deductions and interest linked to supplies made pre GST are not taxable because their time of supply predates GST. Arbitration services rendered after the appointed day are taxable on a reverse charge basis at the prescribed rate and classified under the specified tariff. Liquidated damages are taxable as a service under Schedule II, and interest forming part of consideration for taxable supplies is includible in value and taxable. en-us Wed, 10 Nov 2021 07:02:53 +0530 Wed, 10 Nov 2021 07:02:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10073 Whether amounts awarded by arbitration for works contracts executed before GST attract GST when received after the appointed day: unpaid contractual amounts, refunds of excess deductions and interest linked to supplies made pre GST are not taxable because their time of supply predates GST. Arbitration services rendered after the appointed day are taxable on a reverse charge basis at the prescribed rate and classified under the specified tariff. Liquidated damages are taxable as a service under Schedule II, and interest forming part of consideration for taxable supplies is includible in value and taxable. Articles Goods and Services Tax - GST Wed, 10 Nov 2021 07:02:53 +0530 https://www.taxtmi.com/article/detailed?id=10073