India Pistons Limited ., In re
Date: July 30, 2021
Subject Matter
Activity of agreeing to part-with the leasehold interests held by the applicant is ‘Supply’
Summary
The activity undertaken by India Pistons Ltd in agreeing to partwith the interests of the leasehold rights in the land required by INOX for furtherance of their business, against a consideration is an activity of ‘agreeing to do an act’,…
M/s. India Pistons Limited, Huzur Gardens, Sembiam, Chennai (hereinafter called the Applicant) are registered under GST with GSTIN 33AAACI1439E1Z4. The applicant has sought Advance Ruling on: 1. As to whether GST is payable on the transfer of leasehold rights in respect of the consideration of Rs. 15 Crores received by them from M/s. INOX Air products Private Limited for the land allotted by SIPCO…