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RCM ON LEASE OF PLOT
Hi.. we had availed commercial plot on 90 years lease from Noida Authority, we had already paid 20% premium amount to Noida authority towards consideration of the said plot, my query is whether we need to pay GST on RCM basis on balance 80% premium amount.
Replies (1)
If the commercial plot taken is lease for the construction of building/villa/apartment or any project on that land, then there will be RCM on the land taken on lease.
Request you to refer Entry No. 6C of Notification No. 10/2017 - IGST - Rate as amended.
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