The sale of TDR/FSI would be leviable to GST under Heading 9972, at the rate of 18%
Levy of GST— The first issue raised by the Appellant is that the Advance Ruling order is not maintainable because Advance Ruling can be given only on a transaction proposed to be undertaken and not which has already been undertaken. It is surprising that the Appellant has taken this stand as it is the Appellant himself who had approached the Advance Ruling Authority for Advance Ruling on a transaction which has already been undertaken by them. There is a legal principle - Quod Approbo Non Reprobo’ which means that one thing which is approved will not be rejected at the same time. One cannot both approbate and reprobate i.e one cannot accept and reject at the same time. The Appellant cannot both accept the purview or scope of ‘Advance Ruling’ (as evident from its willingness to raise the question in the first place) and then reject it. The Appellant has himself approached the authority for Advance Ruling, willingly participated in the proceedings and now has at the appellate stage raised the issue of maintainability of an issue which was itself raised by them. Therefore, against the peculiar background of the case we do not find it at all necessary to deal with the argument of the Appellant.
The main issue raised by the Appellant is that the Sale of TDR/ Additional FSI does not amount to taxable supply under GST being in nature of transaction of sale of land/ immovable property and covered under Clause 5 of Schedule III of CGST Act.
Held that— it is held that the sale of TDR/FSI would be leviable to GST under Heading 9972, at the rate of 18% (9% CGST + 9% SGST), as prescribed under the entry at St.No.16 (iii) of Notification No.11/2017 - Central Tax (Rate), dated 28-06-2017.