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Gst for arbitration award

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Md Aahil

1 Points Posted on 02 November 2021

A contract work was completed in the pre- gst period. The arbitration award was received after GST on 2019. Payment was delayed and paid in 2021. Should I pay gst for this award

Thanks in Advance

Replies (5)

Quick Summary

This discussion clarifies whether Goods and Services Tax (GST) is applicable to arbitration awards received after the GST implementation in 2019, for contract work completed before GST. The Telangana Authority for Advance Ruling has determined that GST is indeed payable on such arbitration award amounts, even if the original work predates the GST regime.

Rama chary Rachakonda

Master in Accounts & high court Advocate

9620 Points Posted on 02 November 2021

In re Continental Engineering Corporation (GST AAR Telangana)

GST payable on amount received through Arbitration for work executed in pre-GST period

Telangana Authority for Advance Ruling has held that Goods and Services Tax (GST) would be payable on the amount received through Arbitration for work executed in the pre-GST period.