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2019 (7) TMI 814 - AAR - GSTLevy of GST - 99 years Lease agreement of a private property - Whether the Lease Agreement between the Applicant Company i.e. the lessor and the Lessee for a period of 99 years is a Sale of immovable property and outside GST and is exempt from levy of GST? - HELD THAT:- The agreement made between the applicant and the lessee for long term of 99 years is for lease agreement with many restrictions and has no right to further sale the allotted plot. In the sale deed purchaser becomes the absolute owner of the plot and is not dependent on the lessor for renewal or extension of the lease period - the stamp duty charged by the Registration and Stamp department of the state govt. varies from one state to another. Rate of tax - If the present transaction of giving land on lease of 99 years is taxable under GST, then at what rate and what HSN Code is applicable? - HELD THAT:- Leasing of a private property (land, building etc.) are classifiable under HSN 997212 heading “Rental or leasing services involving own or leased non-residential property” attracting GST @18% (SGST 9% + CGST 9%) of Annexure to Notification No. 11/2017 dated 28.06.2017.
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