Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
The HC held that the assignment/sale/transfer of leasehold rights by the lessee to a third party for a lump-sum consideration is a transfer of "immovable property" and not a supply of service under the GST Act. The leasehold rights encompass incorporeal ownership rights over the land and building, constituting "immovable property". Consequently, such transactions are not subject to GST levy u/s 9(1) of the GST Act.
The HC held that the assignment/sale/transfer of leasehold rights by the lessee to a third party for a lump-sum consideration is a transfer of "immovable property" and not a supply of service under the GST Act. The leasehold rights encompass incorporeal ownership rights over the land and building, constituting "immovable property". Consequently, such transactions are not subject to GST levy u/s 9(1) of the GST Act.
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