Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
The HC ruled that assignment of leasehold rights in MIDC land along with buildings to a third party for lump sum consideration is not subject to GST. Following Gujarat HC's precedent in Gujarat Chambers of Commerce case, the court determined that such transactions constitute transfer of benefits arising from "immovable property," with the assignee becoming the new lessee in place of the original allottee. The court held that Section 7(1)(a) of the GST Act read with clause 5(b) of Schedule II and clause 5 of Schedule III does not apply to such transactions, exempting them from GST under Section 9. The HC stayed adjudication of the Show Cause Notice dated November 13, 2024.
The HC ruled that assignment of leasehold rights in MIDC land along with buildings to a third party for lump sum consideration is not subject to GST. Following Gujarat HC's precedent in Gujarat Chambers of Commerce case, the court determined that such transactions constitute transfer of benefits arising from "immovable property," with the assignee becoming the new lessee in place of the original allottee. The court held that Section 7(1)(a) of the GST Act read with clause 5(b) of Schedule II and clause 5 of Schedule III does not apply to such transactions, exempting them from GST under Section 9. The HC stayed adjudication of the Show Cause Notice dated November 13, 2024.
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