Is GST applicable if we paid settelemet Amount to party

262 views 3 replies
IS GST applicable if we paid settelemet Amount to other party
Replies (3)

settlement in what nature loan or against goods or services.? 

if it is loan repayment - no gst

if it is against goods or services it depends on various factor like supply, place of supply, etc.

Settlement on the matter of property in court
To check whether gst is applicable or not, we have to see whether the said transaction is covered in sec7.

once its satisfies sec 7, then the tax is levied in sec 9.

sec 7 of cgst act 2017, states that supply includes all forms of supply involving consideration made in course or furtherance of bussiness.

and supply inncludes..
the transactions which are mentioned in sch 1 without consideration.
the transactions constituting supply and mentioned in sch 2.

refer sec 7 and sch II of cgst act 2017 to get a clarity regarding said transaction is suplly or not.

in order to express an opinion, there is a need of more speciffic facts.

hope this helps.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
06 July 2026
Chartered Accountant (Indirect Taxation)

Gowra Ventures Pvt Ltd

Hyderabad

CA

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
05 July 2026
Financial Controller

NovumLake Partners

Mumbai

CA

View Details