In re India Pistons Limited (GST AAR Tamil Nadu)
As to whether GST is payable on the transfer of leasehold rights in respect of the consideration of Rs. 15 Crores received by them from M/s. INOX Air products Private Limited for the land allotted by SIPCOT? Whether the Subsequent transfer of SIPCOTs allotted land from the Applicant to M/s. Inox Air Products Private Limited would fall within the ambit of ‘Supply’ as defined under Section 7 of the Goods and Services Act 2017?
The activity of agreeing to partwith the leasehold interests held by the applicant in favour of M/s. INOX Air Products Private Limited is ‘Supply’ as defined under Section 7 of the Goods and Services Act 2017 and GST is liable to be paid on the consideration of Rs. 15 Crores received by them.
Source Taxguru
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