https://www.taxtmi.com/highlights?id=69104 Supply or not - liquidated damages collected for non-performing of an act - In the light of section 7 read with definition of consideration u/s 2(31), liquidity damages paid by defaulting party to the non-defaulting party for tolerating the act of non performance or breach of contract have to be treated as consideration for tolerating of an act or a situation under an agreement and hence such an activity constitutes supply of service - rate of GST is 18% - AAR en-us Thu, 06 Apr 2023 22:47:04 +0530 Thu, 06 Apr 2023 22:47:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=69104 Supply or not - liquidated damages collected for non-performing of an act - In the light of section 7 read with definition of consideration u/s 2(31), liquidity damages paid by defaulting party to the non-defaulting party for tolerating the act of non performance or breach of contract have to be treated as consideration for tolerating of an act or a situation under an agreement and hence such an activity constitutes supply of service - rate of GST is 18% - AAR Highlights GST Thu, 06 Apr 2023 22:47:04 +0530 https://www.taxtmi.com/highlights?id=69104