tranfer of factory building , gst implications

[satbir singhwahi]

A partnership firm has factory building . Now the firm is shifting to new location. Existing factory building(built in financial year 2012-13) it wants to transfer to sister concern. Whether gst applicable.

[Pavan Mahulkar]

As per Schedule III para 5

Read with Schedule II para 5b

It is neither supply of service nor supply of goods

Hence no GST is applicable

AI Summary

Transfer of factory building to a related entity is not treated as supply and does not attract GST. Transfer of a factory building by a partnership firm to a sister concern is examined under Schedule III read with Schedule II and is treated as neither a supply of goods nor a supply of services, so no GST is leviable on that intra-group transfer.