Court Clarifies Penalties for Contract Breach Are Not a Taxable ‘Supply’
The Hon’ble Kerala High Court has ruled that penalties imposed by Indian Oil Corporation Ltd. (IOCL) on its LPG distributors are not subject to GST. This landmark decision, arising from the case of M/s. Aswathy Gas Agencies vs. Indian Oil Corporation Ltd., offers critical clarification on the scope of “supply” under the GST framework, particularly […]