Govt company with equal Central & State equity denied exemption on leasing services as govts own >20%. 18% GST applicable.
Case-Laws
GST
Applicant, a government company established by Central and State governments with 50% equity participation each, sought advance ruling on eligibility for exemption under Sr. No. 41 of Notification No. 12/2017-Central Tax (Rate) for leasing services provided. The Authority ruled that since the Central/State government has 20% or more ownership in the
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =