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GST on Liquidated Damages levied on Foreign Company
What will be the place of Supply for Liquidated Damages levied on Foreign Company? Whether IGST will be applicable or CGST+SGST?
Replies (1)
LD levied by Indian party on foreign company - can take a position that it is export of services. Can be done without IGST under LUT.
LD levied by foreign company on Indian party - may become RCM (though this issue is debatable). IGST can be paid and availed as ITC if it relates to business and other conditions are fulfilled.
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