{"id":70869,"date":"2025-02-01T08:41:22","date_gmt":"2025-02-01T03:11:22","guid":{"rendered":""},"modified":"2025-02-01T08:41:22","modified_gmt":"2025-02-01T03:11:22","slug":"oil-company-39-s-80m-payment-for-production-sharing-contract-breach-ruled-as-damages-not-service-consideration","status":"publish","type":"post","link":"https:\/\/goodsandservicetax.in\/GST\/?p=70869","title":{"rendered":"Oil Company&#39;s $80M Payment for Production Sharing Contract Breach Ruled as Damages, Not Service Consideration"},"content":{"rendered":"<p>Oil Company&#39;s $80M Payment for Production Sharing Contract Breach Ruled as Damages, Not Service Consideration<br \/>Case-Laws<br \/>GST<br \/>ANP demanded settlement fees from appellant following breach of Production Sharing Contract (PSC). The AAAR determined that USD 80,000,000 payment constituted liquidated damages for PSC breach, not consideration for services. The payment was made to compensate losses under clause 4.5(a)(iii), with no evidence of agreement for ANP to perform, refrain from, or tolera<\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n<p align=\"center\"><strong>Plain text (Extract) only<\/strong><BR>For full text:-<a href=\"https:\/\/www.taxtmi.com\/highlights?id=85404\">Visit the Source <\/a><\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil Company&#8217;s $80M Payment for Production Sharing Contract Breach Ruled as Damages, Not Service ConsiderationCase-LawsGSTANP demanded settlement fees from appellant following breach of Production Sharing Contract (PSC). The AAAR determined that USD 80,000<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-70869","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/70869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=70869"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/70869\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=70869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=70869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=70869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}