https://www.taxtmi.com/caselaws?id=424948 The AAR, Andhra Pradesh determined that interest received on annual installments for land allotted by a corporation is liable to GST at 18%. While sale of land itself is not taxable under Schedule III, the agreement creating payment obligations constitutes a supply of service under Schedule II. The interest component falls under Section 15(2)(d) of the GST Act as part of the taxable supply. The Authority rejected the applicant corporation's contention that such interest should be exempt, ruling that the contractual interest on deferred land payments attracts GST liability. en-us Mon, 30 May 2022 00:00:00 +0530 Fri, 04 Apr 2025 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424948 The AAR, Andhra Pradesh determined that interest received on annual installments for land allotted by a corporation is liable to GST at 18%. While sale of land itself is not taxable under Schedule III, the agreement creating payment obligations constitutes a supply of service under Schedule II. The interest component falls under Section 15(2)(d) of the GST Act as part of the taxable supply. The Authority rejected the applicant corporation's contention that such interest should be exempt, ruling that the contractual interest on deferred land payments attracts GST liability. Case-Laws GST Mon, 30 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424948