Forfeited Advance Money Deemed 'Supply' Under CGST Act; Exiting Contract Classified as Service Per Schedule II, Clause 5(e).

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....Levy of GST - forfeited advance money - The impugned transaction is also a ‘supply’ under the provisions of the CGST Act and therefore taxable. In our view, therefore, this transaction of the applicant agreeing to the obligation of refrain or tolerate or to do an act (exiting from the contract) on the part of Mr. B (customer), for payment of a sum, will be covered under Clause 5(e) to Schedule II to CGST Act 2017, as a declared service - AAR....