Case Law Details
Case Name : In re Fastrack Deal Comm Pvt. Ltd. (GST AAR Gujarat)
Related Assessment Year :
Courts :
AAR Gujarat Advance Rulings
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
In re Fastrack Deal Comm Pvt. Ltd. (GST AAR Gujarat)
The main issue is here to decide whether the amount forfeited on account of breach of agreement of sale of land is liable to GST or not.
The applicant contention is that the amount of Rs. 20 lacs forfeited is on account of sale of land and as per Schedule III of CGST Act, 2017, sale of land is an activity or transaction, which is treated as, neither supply of goods nor service. Therefore, they have claimed that such transaction is not liable to GST.
As per Section 7(1) of the CGST Act, 2017, activities referred to in Schedule II are covered ...
This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
Absurdity has its limitations except in cases of taxation. GST is no exception. In a transaction where no GST applies, to hold that forfeited amount is taxable for GST is absurd indeed. With all the distortions in reading any tax law can only result in unlimited litigation. So will it be in the current one. Floodgates of litigation.