TMI Bloglong term lease of immovable propertyX X X X Extracts X X X X X X X X Extracts X X X X ..... whether gst is applicable on long term lease of immovable property where contract for lease was entered pre-gst amount received under pre-gst and term of lease continued under gst also - Reply By DR.MARIAPPAN GOVINDARAJAN - The Reply = It is applicable. - Reply By vasanth kumar - The Reply = how to substantiate that it is applicable under gst, relevant provisions which supports under gst as we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll as service tax law? - Reply By Ganeshan Kalyani - The Reply = The time of supply of service is completion of service or date of invoice . Even though the contract was entered pre GST the completion of service for each period is in GST regime. Hence get is applicable on the service supplied. - Reply By Pavan Mahulkar - The Reply = Section 140 10) Save as otherwise provided in this Chapter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the goods or services or both supplied on or after the appointed day in pursuance of a contract entered into prior to the appointed day shall be liable to tax under the provisions of this Act. (11) (a) notwithstanding anything contained in section 12 , no tax shall be payable on goods under this Act to the extent the tax was leviable on the said goods under the Value Added Tax Act of the St ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate; (b) notwithstanding anything contained in section 13 , no tax shall be payable on services under this Act to the extent the tax was leviable on the said services under Chapter V of the Finance Act, 1994 ; - Reply By Pavan Mahulkar - The Reply = Typographical error Please read Section 142 instead of Section 140 - Reply By vasanth kumar - The Reply = Dear sir in this situatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n how do we bifurcate as to how much value liable under service tax law and how much value attract gst as under long term lease lump sum payment was made under service tax law nothing was receivable under gst law - Reply By Pavan Mahulkar - The Reply = There's specific provision regarding Import under section 21 of IGST Act which could be helpful for understanding the provisions under s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 142 of CGST Act 21. Import of services made on or after the appointed day shall be liable to tax under the provisions of this Act regardless of whether the transactions for such import of services had been initiated before the appointed day: Provided that if the tax on such import of services had been paid in full under the existing law, no tax shall be payable on such import under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this Act: Provided further that if the tax on such import of services had been paid in part under the existing law, the balance amount of tax shall be payable on such import under this Act. Explanation . For the purposes of this section, a transaction shall be deemed to have been initiated before the appointed day if either the invoice relating to such supply or payment, either in full ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or in part, has been received or made before the appointed day. - long term lease of immovable property - Query Started By: - vasanth kumar Dated:- 28-8-2018 Goods and Services Tax - GST - Got 7 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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