AAAR: Sale of TDR/FSI in open real-estate market taxable at 18% as 'service', upholds AAR

Maharashtra AAAR affirms AAR, rules that sale of transferable development rights (TDR) and Floor Space Index (FSI) in open real-estate market, "is a benefit arising out of land and not land itself", would be leviable to GST under Heading 9972 at the rate of 18% as per Entry at Sl. No. 16 (iii) of Notification No. 11/2017- CTR; Observes that TDR/FSI was awarded as consideration (instead of cash) to the Appellant in pursuance of land transferred to Pune Municipal Corp...