A recent Gujarat High Court decision has established that land transfer transactions within the Maharashtra Industrial Development Corporation (MIDC) are exempt from Goods and Services Tax (GST), marking a significant development for the industrial sector.
The ruling has prompted immediate reaction from industry stakeholders, with the Maharashtra Small Scale Industries Association (MASSIA) leading calls for tax refunds.
The decision addresses longstanding concerns within the business community about the financial burden of GST on land transactions.
Industry representatives have consistently maintained that the tax obligation had significantly inflated land acquisition costs, creating additional financial pressure on enterprises, particularly smaller operations.
MASSIA President has expressed strong support for the court's determination, announcing plans to engage with MIDC officials regarding potential refunds.
We welcome this ruling and urge MIDC to refund the GST paid on land transfers,” he stated.
The association's leadership is expected to initiate formal discussions with MIDC authorities in the coming weeks to address outstanding tax notices and establish a framework for potential reimbursements.
Source from: https://knnindia.co.in/news/newsdetails/state/massia-advocates-for-gst-refunds-post-landmark-gujarat-hc-decision
