Case Law05/WBAAR/2020-21
Enfield Apparels Ltd ., In re
- Court:
- Authority for Advance Ruling
- Bench:
- West Bengal
- Date:
- August 10, 2020
- Type:
- Advance Ruling
- Members:
- Susmita Bhattacharya, Parthasarathi Dey
Subject
Leasehold-right assignment by a corporate debtor attracts 18 per cent GST
Classification
Summary
Assets under liquidation is the leasehold property, given on lease for 99 years. One of the conditions of lease was that it can be sub-leased after five years from the date of signing of deed. The question before the AAR was whether GST is payable in…
Judgement
1.1 The National Company Law Tribunal (hereinafter NCLT), Kolkata Bench, passed an order on 06/08/2018, initiating the corporate insolvency resolution process (hereinafter CIRP), admitting the applicant as the corporate debtor, and appointed Sri Kanchan Duatta as Interim Resolution Professional (IRP). The Committee of Creditors (hereinafter CoC) subsequently confirmed Sri Dutta as the Resolution P…