Scope of “as is” or “ as is, where is basis” - GST Ready Reckoner - GST

Such clarification are given under the section 168 of CGST Act, 2017, as per Para 4 of the Circular No. 236/30/2024-G ST dated 11.10.2024 issued under CGST Act, 2017. The phrase 'as is where is is generally used in the context of transfer of property and means that the property is being transferred in its current condition, whatever this condition happens to be and the transferee of property has accepted it with all its faults and defects, whether or not immediately apparent. In the context of GST , the phrase regularized on as is where is basis means that the payment made at lower rate or exemption claimed by the taxpayer shall be accepted and no refund shall be made if tax has been paid at the higher rate. The intention of the Council is to regularize payment at a lower rate including nil rate due to the tax position taken by taxable person, as full discharge of tax liability. The tax position of a taxable person is reflected in the returns filed by the person where the applicable rate of tax (or relevant exemption entry) on a transaction/supply is declared. Some illustration are provided in the circular . Important Case Laws As per para 329(i) of the K.C. Ninan Vs. Kerala State Electricity Board and Ors. - 2023 (5) TMI 1251 - SC The implication of the expression as is where is basis is that every intending bidder is put on notice that the seller does not undertake responsibility in respect of the property offered for sale with regard to any liability for the payment of dues, like service charges, electricity dues for power connection, and taxes of the local authorities;