GST on Transfer of Leasehold Rights, Upfront Premium & ITC Eligibility

In re Remarkable Industries Private Limited (GST AAR Uttar Pradesh) The Authority for Advance Ruling (AAR), Uttar Pradesh, deliberated on a case presented by Remarkable Industries Private Limited regarding the Goods and Services Tax (GST) implications on the transfer of leasehold rights. The case pertains to the sale of an industrial plot under a 99-year lease deed originally allotted by the Noida Authority. The applicant sought clarity on the GST treatment of such a transfer, specifically questioning the taxability of the transaction, Input Tax Credit (ITC) eligibility for the buyer, and the ...