No GST on development agreement for transfer of development rights: HC

MUMBAI: The Nagpur bench of the Bombay high court has held that Goods and Services Tax (GST) is not applicable to the transfer of development rights (TDR) or floor space index (FSI) as part of a development agreement. The petitioner, Shrinivasa Realcon Private Ltd, challenged a notice from the GST department saying it is liable to pay GST on TDR based on a 2017 notification issued by the Central B…