Whether amount received as interest free non-refundable maintenance deposit (IFMD) pursuant to common area maintenance services agreement executed by the applicant (Promoters) with the allottees of industrial plots sold is taxable under the GST Law.
FULL TEXT OF THE ORDER OF AUTHORITY FOR ADVANCE RULING,PUNJAB
1. M/s VIVIDHA INFRASTRUCTURE PVT. LTD., as detailed in the table above and hereinafter referred to as ‘applicants’, had submitted an application for advance ruling in form GST ARA-01 dated 20.07.2020 seeking to know “Whether amount received as interest free non-refundable maintenance deposit (IFMD) pursuant to common area maintenance services agreement executed by the applicant (Promoters) with the allottees of industrial plots sold is taxable under the GST Law.”
Proceedings Under Section 98 of CGST/PGST Act:
In this regard personal hearings were held on 18.02.2022 before the Advance Ruling Authority, Punjab, however, vide letter dated 16.01.2021 sent through speed post and again by email on 15.02.2022 by authorized representative of the applicant, the applicant has requested for withdrawal of the application due to some personal reason. On 18.02.2022 on the day of personal hearing the authorised representative of the applicant reiterated the same.
3. In view of the request of the applicant, without going into the merits of the issues and questions raised by the applicant, the application is dismissed as withdrawn under section 98(2) of the COST Act, 2017 and Section 98(2) of the Punjab GST Act, 2017.
4. An Appeal against this order lies with the Punjab Appellate Authority for advance rulings, Chandigarh, in terms of Section 99 and Section 100 of the COST Act, 2017 and Section 99 and Section 100 of the POST Act, 2017 within a period of thirty days from the date of communication of this order.
Note: The provisions of COST Act, 2017 and POST Act, 2017 and rules framed thereunder arc almost same except a few provisions. Unless specific reference is made to such dissimilar provisions in the two Acts and rules made thereunder, reference to provisions of COST Act, 2017 and COST Rules, 2017 would mean a reference to the same provisions of POST Act, 2017 and POST —Rules, 201.7 and vice versa.