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Background:

In joint development agreement (JDA) on area sharing basis, the landlord/LL enters into arrangement whereby developer is allowed to enter into the land or the possession is handed over, and developer given an irrevocable right to do development works.[nomenclated here as “development rights”/”DR”] of construction of complex/building. Land ownership continues with the owner of the land. In consideration of the DR given by landlord, a portion of built up area is...

Background

The list of services which are exempted under GST is enumerated in Notification 12/2017-CT(Rate). The relevant exemption entry, applicable to the education sector are portrayed below; We would examine the relevant extracted portions in this article.

Entry no. 66 of notification 12/2017-CT(R): Services provided by:

a. by an educational institution to its students, faculty and staff;

aa. by an educational institution by way of conduct of entrance examination against...

The applicability of GST on corporate guarantees has always been a contentious issue. The first issue was whether there was any service involved in the provision of corporate guarantees.

Judicially, under the erstwhile service tax regime, the courts have indirectly indicated that there is an element of service involved in the provision of corporate guarantees. The same view has also been coming forth from the jurisprudence established under the Income Tax Act, 1961.

Thus, as there is a...