GST on Assignment of Leasehold Rights: Mapping the Emerging Legal Position

Introduction : The assignment of leasehold rights of the industrial plots has been a highly debatable issue under the Goods and Services Tax regime in India. Across India the State Industrial Development Corporation allots industrial plots through long-term leases, typically for 30 years or more rather than a sale. Generally two types of transactions arise from it; First, the primary allotment of the lease by the State Corporation and Second, the secondary assignment of the leaseholders...