https://www.taxtmi.com/caselaws?id=411314 The case involved determining the GST liability on leasing tank containers from a foreign supplier when the containers do not enter India and whether the lease transaction amounts to a taxable supply under GST law. The authority found that the transaction did not meet the conditions of a sale under the CGST Act, as the lessee had an option to purchase the containers at the end of the lease term, making it a service until the purchase option was exercised. The ruling concluded that the applicant is liable to pay IGST on the importation of lease services into India. en-us Tue, 17 Aug 2021 00:00:00 +0530 Wed, 26 Mar 2025 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411314 The case involved determining the GST liability on leasing tank containers from a foreign supplier when the containers do not enter India and whether the lease transaction amounts to a taxable supply under GST law. The authority found that the transaction did not meet the conditions of a sale under the CGST Act, as the lessee had an option to purchase the containers at the end of the lease term, making it a service until the purchase option was exercised. The ruling concluded that the applicant is liable to pay IGST on the importation of lease services into India. Case-Laws GST Tue, 17 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411314