Transfer-pricing reimbursement adjustments require uncontrolled comparables and cannot become expense-genuineness reviews, resulting in deletion of th...
Food import sampling requirements support provisional release where unseized consignments conform to standards and raw areca classification is unestab...
The HC quashed and set aside the show cause notice, ruling that assignment of long-term leasehold rights does not attract GST. Following Gujarat Chamber of Commerce precedent, the court determined that such assignment constitutes a transfer of benefits arising from immovable property rather than a taxable supply under the CGST Act. The deed of assignment represents a sale/transfer of leasehold rights for valuable consideration, placing the assignee in the position of lessee. As this transaction falls outside the scope of Section 7(1)(a) read with Schedule II Clause 5(b) and Schedule III Clause 5, it is not subject to GST under Section 9 of the Act.
The HC quashed and set aside the show cause notice, ruling that assignment of long-term leasehold rights does not attract GST. Following Gujarat Chamber of Commerce precedent, the court determined that such assignment constitutes a transfer of benefits arising from immovable property rather than a taxable supply under the CGST Act. The deed of assignment represents a sale/transfer of leasehold rights for valuable consideration, placing the assignee in the position of lessee. As this transaction falls outside the scope of Section 7(1)(a) read with Schedule II Clause 5(b) and Schedule III Clause 5, it is not subject to GST under Section 9 of the Act.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4897 
