TMI BlogTaxability of surrender of tenancy rightsX X X X Extracts X X X X X X X X Extracts X X X X ..... A religious trust, landowner, has rented its residential property to an individual for long term lease basis (widely known as pagdi system). Now, the tenant is selling its tenancy rights to another i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndividual. As per the agreement, the new buyer will be transferring half amount to landowner and half amount to old tenant. Will the receipt in the hand of landowner will attract GST ? - Reply By G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... UNASEKARAN K - The Reply = Yes GST at 18% applicable on Real estate services involving owned or leased property (SAC 99721) Transfer of tenancy rights to a new tenant against consideration in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... form of tenancy premium is taxable and hence GST is payable on the same. Renting of residential dwelling for use as a residence is exempt. Services provided by outgoing tenant by way of surrendering ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the tenancy rights against consideration in the form of a portion of tenancy premium is liable to GST. - Reply By KASTURI SETHI - The Reply = Agree with Sh.Gunasekaran K Ji. Also read Board's ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... circular in this context. Tenancy rights taxability under GST Clarification Circular No. 44/18/2018-CGST, dated 2-5-2018 - Taxability of surrender of tenancy rights - Query Started ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... By: - Prateek Jaju Dated:- 23-8-2023 Goods and Services Tax - GST - Got 2 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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