Opportunity to respond to jurisdictional reports is mandatory before customs settlement duty enhancement; connected applications require consistent ad...
Specific customs headings for scaffolding components prevail over general classification, invalidating misclassification proceedings and enabling with...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
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The HC ruled that assignment of leasehold rights in immovable property allotted by a government industrial development corporation does not constitute taxable supply under GST. Following precedent established in Gujarat Chamber of Commerce and subsequent decisions including Alfa Tools Pvt. Ltd., BVM Pharma, and Time Technoplast Limited, the court held that such assignments are exempt from GST liability. Additionally, transfer from partnership to sole proprietorship was deemed internal reorganization exempt from GST. The court quashed impugned orders demanding GST, interest, and penalty, allowing the petition and setting aside the contested orders.
The HC ruled that assignment of leasehold rights in immovable property allotted by a government industrial development corporation does not constitute taxable supply under GST. Following precedent established in Gujarat Chamber of Commerce and subsequent decisions including Alfa Tools Pvt. Ltd., BVM Pharma, and Time Technoplast Limited, the court held that such assignments are exempt from GST liability. Additionally, transfer from partnership to sole proprietorship was deemed internal reorganization exempt from GST. The court quashed impugned orders demanding GST, interest, and penalty, allowing the petition and setting aside the contested orders.
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