GST ON amount of recovered for non serving notice period.
shivani ebitwar (24 Points)
19 March 2022Agreeing to the obligation to refrain from an act, or to tolerate an act or a situation or do an act,
eg.penalty on early termination of rental agreement or lease agreement...
GST IS payable
Similary,
Amount recovered from employee for not serving notice period (eg 2 Month or 3 Month as agreed ) on resigning the job...
Whether it is liable for GST..
If yes then who will be liable to pay (Since employee will be unregistered person).