Assignment of Industrial Leasehold Rights Is Treated as Immovable Property Transfer, Excluding GST on Third-Party Assignments

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Full Text of the Document

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....Assignment by sale and transfer of leasehold rights in industrial plots allotted by GIDC is treated as a transfer of benefits arising from immovable property rather than a taxable supply under GST. On that basis, GST is not leviable on assignments to third-party assignees. An intention to seek review does not displace a binding ruling unless it is stayed or recalled.....