Assignment of Leasehold Rights in Industrial Plots Is Transfer of Property Benefits, Not Supply of Services Under GST Section 7(1)(a)

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....The HC held that the assignment by sale and transfer of leasehold rights of industrial plots allotted by a government agency constitutes transfer of benefits arising from immovable property and not supply of services. Consequently, Section 7(1)(a) of the Act, along with Clause 5(b) of Schedule 2 and Clause 5 of Schedule 3, does not apply, and such transactions are not subject to GST levy under Section 9. The Court quashed and set aside the impugned Order-in-Original dated 31.12.2024 issued under Section 74 in Form GST DRC-07, thereby allowing the petition. This decision aligns with prior rulings, including the setting aside of a show cause notice dated 03.08.2024, confirming that the transaction falls outside the ambit of taxable supply under GST law.....