HC stays levy of Rs 22 cr in arbitration

HYDERABAD: A two-judge bench of the Telangana High Court on Thursday stayed the levy of Rs 22 crore on an arbitral award over a writ petition filed by Continental Engineering, in an arbitration between the petitioner and Hyderabad Growth Corridor Limited. In 2019, HGCL suffered an award of Rs 169 crore and approximately Rs 115 crore constituted the levy on damages. The controversy in question in the present petition is whether the levy of GST on damages obtained through an arbitration award can be taxed.