hello all,
ex: A is the landlord and B takes A's land for running a restaurant business after incurring some expenses on development. Now both A & B entered into revenue sharing agreement of 30:70. In this case, will the gst be applicable in 30% revenue share of landlord.
please suggest an answer.
thank you
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Impact of gst on revenue sharing agreement
Replies (1)
Yes, GST is applicable on the landlord's 30% revenue share. Renting land for commercial use is a taxable supply of service. If the landlord's total annual turnover exceeds ₹20 Lakhs (or ₹10 Lakhs in hilly/special states), they must register for GST, charge 18% GST on their 30% share of the revenue, and remit it to the government.
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