Bombay High Court Holds Assignment of Leasehold Rights in Industrial Plots Not Liable to GST as Supply of Services
The Bombay High Court has ruled that the assignment or transfer of leasehold rights in industrial plots, along with buildings thereon, constitutes a transfer of benefits arising out of immovable property and does not amount to a supply of services under the GST Act. Consequently, such transactions are not subject to GST liability.
