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The transfer of assets fastened to the building on delivering possession to the lessor free shall amount to supply within the meaning of “supply” within the section 7 of the Central Goods and Services Tax Act, 2017 and is chargeable to tax under the GST Acts.

Classification of Supply — The applicant sought advance ruling on the questions whether disposing off assets (no CENVAT/VAT Credit was taken) fastened to the building on delivering possession to the lesser, on which no consideration will be received, shall fall within the ambit of “Supply” as per Section 7 of CGST Act, 2017 and shall be chargeable with GST, as per provisions of CGST, KGST and IGST and rules contained therein? The Authority ruled out that the transfer of assets fastened to the building on delivering possession to the lessor free shall amount to supply within the meaning of “supply” within the section 7 of the CGST Act, 2017 and is chargeable to tax under the GST Acts. — Aquarelle India Private Limited, In Re… [2019] 16 TAXLOK.COM 111 (AAR-Karnataka)

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