who is liable to pay gst on surrendering of tenancy rights in case of a commercial property.
What would be the GST Rate?
Is it Chargeable on RCM basis?
and will the input credit on gst paid will be available?
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Who is liable to pay gst on surrendering of tenancy rights
Replies (3)
Quick Summary
The outgoing tenant who is surrendering the tenancy rights against consideration is liable to charge GST.
Rate of GST is 18% & it's on FC.
Kindly refer Circular 44/18/2018 GST for complete information on the same.
Rate of GST is 18% & it's on FC.
Kindly refer Circular 44/18/2018 GST for complete information on the same.
What if the outgoing tenant is unregistered person and the consideration is less than 20 lakhs
IF INCLUDING CONSIDERATION THE AGGREGATE TURNOVER EXCEEDS 20 LAC THEN NEED TO OBTAIN REGISTRATION IN TERM OF SECTION 22 & LIABLE TO PAY GST
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