Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
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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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