Recent International Developments on Taxability of Early Termination Fees and Liquidated Damages

Welcome back to Taxsutra's Global IDT Chronicles, where this time, in Episode 5, we bring to you yet another engrossing write-up!As the GST law is still trying to accommodate in India, there are certain issues which have been carried forward from the erstwhile regime. One of such issues is as regards leviability of GST / Service Tax on payments of termination fees or liquidated damages. There is still a lack of clarity, as to whether payments which qualify as early terminatio...