Panacea Biotec not to pay 18% GST on leasehold land, says Bombay HC

After Gujarat High Court, in a yet again landmark judgment, the Bombay High Court on January 21 quashed the GST demand on the assigning of leasehold land under the Maharashtra Industrial Development Corporation (MIDC). The Court was hearing a matter as to whether 18% GST should be applicable to such leasehold land deals or not. Even the industry had continuously contended that it would lead to dou…