Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Assignment of long-term (95-year) leasehold rights that extinguishes the transferor's rights and vests benefits in an assignee constitutes a transfer of benefits arising out of immovable property, not a supply of services under the GST supply framework; accordingly, classification of such assignment as 'other miscellaneous services' taxable at 18% was legally unsustainable and a show cause notice premised on that classification was quashed. The decision emphasises absence of nexus with the transferor's business and the character of the long term lease as determinative of tax treatment.
Assignment of long-term (95-year) leasehold rights that extinguishes the transferor's rights and vests benefits in an assignee constitutes a transfer of benefits arising out of immovable property, not a supply of services under the GST supply framework; accordingly, classification of such assignment as 'other miscellaneous services' taxable at 18% was legally unsustainable and a show cause notice premised on that classification was quashed. The decision emphasises absence of nexus with the transferor's business and the character of the long term lease as determinative of tax treatment.
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