https://www.taxtmi.com/highlights?id=80126 Applicant, a government company established by Central and State governments with 50% equity participation each, sought advance ruling on eligibility for exemption under Sr. No. 41 of Notification No. 12/2017-Central Tax (Rate) for leasing services provided. The Authority ruled that since the Central/State government has 20% or more ownership in the applicant entity, it is ineligible for the exemption. Hence, 18% GST is applicable on the leasing services provided. en-us Mon, 05 Aug 2024 07:05:58 +0530 Mon, 05 Aug 2024 07:05:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=80126 Applicant, a government company established by Central and State governments with 50% equity participation each, sought advance ruling on eligibility for exemption under Sr. No. 41 of Notification No. 12/2017-Central Tax (Rate) for leasing services provided. The Authority ruled that since the Central/State government has 20% or more ownership in the applicant entity, it is ineligible for the exemption. Hence, 18% GST is applicable on the leasing services provided. Highlights GST Mon, 05 Aug 2024 07:05:58 +0530 https://www.taxtmi.com/highlights?id=80126