Businessmen having transferred their plots in MIDC’s industrial estates to others may soon have the taxman knocking at their doors. The central GST department is in the process of extracting 18% duty for such transactions.
The deals are being taken as lease which is classified as service and attracts GST. All such transfers since GST came into effect in 2017 are being now covered for the tax demand.
Source a2ztaxcorp
