GST not leviable on Assignment/Transfer of Leasehold Rights to third party: Gujarat HC

GST Not Leviable on Assignment/Transfer of Leasehold Rights to Third Party: Gujarat HC The Gujarat High Court ruled that Goods and Services Tax (GST) is not applicable on the assignment or transfer of leasehold rights to a third party. The case involved a dispute over whether such transfers should be subject to GST. The court’s decision clarifies that the transfer of leasehold rights, without any further sale of goods or services, does not attract GST. This judgment is significant for businesses involved in real estate, lease agreements, and property transactions. It helps in clarifying the taxability of leasehold rights transfer and provides relief to businesses that were previously uncertain about the GST implications on such transactions.