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TMI Blog2020 (1) TMI 661X X X X Extracts X X X X X X X X Extracts X X X X ..... this deposit. As the original Deed of Lease never mentioned such clause. The parties approached the Supreme Court, who intervened and directed GIDC to compensate them @ 8.25% - In the process the applicant has agreed to do an act of vacating the claim by parties of setting up SEZ units for which GSIDC has paid consideration. Thus the original amount which is paid back along with compensation would clearly qualify as Supply of Services . - GOA/GAAR/01 OF 2019-20/1875 - - - Dated:- 17-10-2019 - SHRI. J.K. MEENA, AND SMT. SARITA S. GADGIL, MEMBER Persons Present for Hearing: CA Gautam Sardesai PROCEEDING (Under Section 98 of the Goa Goods and Services Tax, Act 2017) The present application ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid by the parties amounting to ₹ 256,56,90,593/-. Section 9 of the GST Act says that there shall be levied a tax on supplies of goods or services or both. So we need to understand as to whether the aforesaid receipt of amount as compensation would be supply made by the applicant. A Supply defined under section 7 of the CGST Act, 2017 is as follows: 7. (1) For the purposes of this Act, the expression supply includes- (a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business; (b) import of services for a consideration wheth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that gifts not exceeding fifty thousand rupees in value in a financial year by an employer to an employee shall not be treated as supply of goods or services or both. 3. Supply of goods (a) by a principal to his agent where the agent undertakes to supply such goods on behalf of the principal; or (b) by an agent to his principal where the agent undertakes to receive such goods on behalf of the principal. 4. Import of services by a taxable person from a related person or from any of his other establishments outside India, in the course or furtherance of business. SCHEDULE II (See Section 7) ACTIVITIES TO BE TREATED AS SUPPLY OF GOODS OR SUPPLY OF SERVICES 1. Transfer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onsideration, the usage or making available of such goods is a supply of services; (c) where any person ceases to be a taxable person, any goods forming part of the assets of any business carried on by him shall be deemed to be supplied by him in the course or furtherance of his business immediately before he ceases to be a taxable person, unless (i) the business is transferred as a going concern to another person; or (ii) the business is carried on by a personal representative who is deemed to be a taxable person. 5. Supply of services The following shall be treated as supply of services, namely: (a) renting of immovable property; (b) construction of a complex, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a situation, or to do an act; and (f) transfer of the right to use any goods for any purpose (whether or not for a specified period) for cash, deferred payment or other valuable consideration. 6. Composite supply The following composite supplies shall be treated as a supply of services, namely:- (a) works contract as defined in clause (119) of section 2; and (b) supply, by way of or as part of any service or in any other manner whatsoever, of goods, being food or any other article for human consumption or any drink (other than alcoholic liquor for human consumption), where such supply or service is for cash, deferred payment or other valuable consideration. 7. Supply of G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 7 states that That certain activities would be notified as being (a) a supply of goods and not as a supply of services or (b) a supply of services and not as a supply of goods. In the case before us we find that- The applicant is a Government of Goa Undertaking and had entered into an agreement leasing land to parties for setting up Special Economic Zone (SEZ). However, this could not materialize due to protest from the people. As a result, deposit taken from the parties had to be refunded. However, GIDC refused to pay compensation on this deposit. As the original Deed of Lease never mentioned such clause. The parties approached the Supreme Court, who intervened and directed GIDC to com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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