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Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
HC held that assignment of leasehold rights for industrial land by a lessee to a third party for a lump sum consideration does not constitute a supply under GST provisions. The court determined that Section 7(1)(a) of the GST Act, read with Schedule II, Clause 5(b) and Schedule III, Clause 5, does not attract GST levy for such transactions involving transfer of immovable property rights. Following the precedent set in a prior Gujarat HC decision, the court recognized this as a significant legal issue affecting multiple pending petitions, effectively providing relief to industrial land lessees by exempting such assignments from GST taxation.
HC held that assignment of leasehold rights for industrial land by a lessee to a third party for a lump sum consideration does not constitute a supply under GST provisions. The court determined that Section 7(1)(a) of the GST Act, read with Schedule II, Clause 5(b) and Schedule III, Clause 5, does not attract GST levy for such transactions involving transfer of immovable property rights. Following the precedent set in a prior Gujarat HC decision, the court recognized this as a significant legal issue affecting multiple pending petitions, effectively providing relief to industrial land lessees by exempting such assignments from GST taxation.
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