In the recent debate between realty companies and tax authorities around the demand for Goods and Services Tax (GST) on transfer of leasehold land, the latter may have a stronger case.
GST authorities may be able to defend their recent notices, demanding 18 per cent GST on the transfer of leasehold land, according to experts. Of late, these notices have been sent to several companies, including the Gujarat Industrial Development Corporation.
When a company sells its rights to leasehold land to a third party for the remaining lease term, the transaction typically attracts stamp duty.
Tax authorities,
