ITC on GST charged by GIDC for transfer/re-assignment of its leasehold plot
This query is : Resolved
Ashok Pachisia
(Querist)
20 November 2023
Property is a vacant plot of land leased out by GIDC on a 99 years leasehold term to the Vendor. The vendor has not utilised the plot, and wants to transfer his rights to a purchaser intending to set up a factory.
This is a resale - transaction for transfer of Leasehold rights of the Plot at GIDC; GIDC charges (a)Transfer fees+18% GST and (b) Non-Utlisation Penalty+18% GST, to the Vendor (reimbursed by Purchaser to Vendor). Can the Purchaser avail of ITC for the GST paid on both the charges ?
Request an URGENT response from a GST expert in this forum.
Regards,
Ashok Pachisia
9867297925
This is a resale - transaction for transfer of Leasehold rights of the Plot at GIDC; GIDC charges (a)Transfer fees+18% GST and (b) Non-Utlisation Penalty+18% GST, to the Vendor (reimbursed by Purchaser to Vendor). Can the Purchaser avail of ITC for the GST paid on both the charges ?
Request an URGENT response from a GST expert in this forum.
Regards,
Ashok Pachisia
9867297925
15 January 2024
https://taxguru.in/goods-and-service-tax/itc-eligible-services-received-transfer-rights-leasehold-land-owned-gidc.html
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