Whether GST Applicable on Liquidated Damages?

Liquidated Damages are being levied for Non-Performance or Breach of Contract, Late Delivery of Supplies etc. In this article let’s discuss about applicability of GST on Liquidated Damages. Meaning of Liquidated Damages:  Black’s Law Dictionary (Tenth Edition) on page 473 defines Liquidated Damages thus: “An amount contractually stipulated as a reasonable estimation of actual damages […]

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