Blocked input tax credit for resort construction remains unavailable; interest follows actual utilisation, while delayed payment attracts statutory pe...
Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
HC held that assignment of long-term leasehold rights in an industrial plot by a lessee to a third-party assignee constitutes a transfer of immovable property benefits, not a taxable supply under GST Act. Relying on precedent in Gujarat Chamber of Commerce case, the Court determined that such transaction falls outside section 7(1)(a) read with Schedules II and III, thereby exempting the transfer from GST levy. Consequently, the show cause notice was quashed, and the petition was allowed, affirming the non-applicability of GST to leasehold rights transfer.
HC held that assignment of long-term leasehold rights in an industrial plot by a lessee to a third-party assignee constitutes a transfer of immovable property benefits, not a taxable supply under GST Act. Relying on precedent in Gujarat Chamber of Commerce case, the Court determined that such transaction falls outside section 7(1)(a) read with Schedules II and III, thereby exempting the transfer from GST levy. Consequently, the show cause notice was quashed, and the petition was allowed, affirming the non-applicability of GST to leasehold rights transfer.
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