Concept of cancellation can be linked to liquidated damages. Cancellation is in line with compensation and is not a charge against a supply. Therefore, ideally GST should not be charged on the same. Although, as the tax position is unclear, taxpayers are presently charging GST on the same.
O P Bagla & Co LLP
New Delhi
CA Inter
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Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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Shaswat initial support private limited
Ahmedabad
CS
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CAclubindia
