GST shall be levied on payment of lump sum upfront premium as transfer charges of leasehold rights
It is in the nature of compensation for agreeing to do the transfer of the Applicant’s rights in favour of the Assignee. It is a service classifiable under “Other miscellaneous service” i.e., SAC 999792 and taxable at the GST rate of 18% under SI No. 35 of Notification No. 11/2017- Central Tax (Rate) dated June 28, 2017.