Leasehold rights assignment transfers benefits of immovable property, keeping industrial plot transfers outside the GST supply net.

Leasehold rights assignment transfers benefits of immovable property, keeping industrial plot transfers outside the GST supply net.Case-LawsGSTAssignment of leasehold rights in an industrial plot to a third party is treated as a transfer of benefits ar…

Leasehold rights assignment transfers benefits of immovable property, keeping industrial plot transfers outside the GST supply net.
Case-Laws
GST
Assignment of leasehold rights in an industrial plot to a third party is treated as a transfer of benefits arising from immovable property rather than a GST-taxable supply. A binding High Court ruling on that characterisation remains operative absent a stay or recall, notwithstanding an intended review. GST is therefore not leviable on such assignment, and the appellate order rejecting the departmental challenge stands sustained.
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