- Bombay High Court ruled GST is not applicable on complete assignment of leasehold rights.
- Such assignment extinguishes the assignor’s rights in the property.
- The transaction is considered a sale, not a supply of services.
- The transaction is unrelated to the furtherance of the petitioner’s business.
Source: kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "India"
- Beyond the P&L: Why Your GST Returns Tell a Different Financial Story
- India’s Supreme Court Settles It: No GST on Assignment of GIDC Leasehold Rights
- Calcutta HC: An Expired E-Way Bill Is No Proof of Evasion—₹1.58 Lakh Penalty Slashed to ₹10,000
- India Keeps Petrol and Diesel Outside GST as Fuel Levies Hit ₹3.27 Lakh Crore
- CBIC Weighs Centralised GST Registration Under One PAN
