GST Recovery Stayed Because Assignment of Leasehold Rights Issue Pending Before SC

Swastik Processor Vs Union of India & Ors. (Bombay High Court) A batch of writ petitions before the Bombay High Court raised common questions of law regarding whether the assignment or transfer of leasehold rights in land and buildings by lessees to third parties constitutes a taxable “supply” under Section 7(1)(a) read with Schedule II(2) of the Central Goods and Services Tax (CGST) Act. The petitioners challenged show cause notices and orders issued by the tax authorities treating such assignments of leasehold rights as taxable transactions under GST. According to the petitioners, th...