No GST on Transfer of Development Rights or FSI Service: Bombay HC

Shrinivasa Realcon Private Ltd. Vs Deputy Commissioner Anti-Evasion Branch (Bombay High Court) The Bombay High Court, in the case of Shrinivasa Realcon Private Ltd. vs. Deputy Commissioner Anti-Evasion Branch, addressed the applicability of Goods and Services Tax (GST) on a development agreement. The petitioner challenged a notice demanding GST based on Entry 5B of a notification, which pertains to services supplied by way of transfer of development rights or Floor Space Index (FSI) for project construction by a promoter. The agreement in question, dated January 7, 2022, appointed the petition...