Goods and Services Tax – Started By: – Deepa Praveen – Dated:- 23-4-2018 Last Replied Date:- 28-4-2018 – Facts: ABC Medical Sciences is a Partnership Firm engaged in Health Care Services. A new Company, PQR Healthcare Co Pvt. Ltd has been formed as a Private Limited Company , for the management of ABC Medical Sciences. All the partners of ABC Medical Science are either directors or major shareholders of the new company. PQR Healthcare Co Pvt. Ltd is willing to enter into an agreement with ABC Medical Science whereby PQR Healthcare Co Pvt. Ltd shall takeover Plant & Machinery and Land of ABC Medical Science, having market value of ₹ 40 crores at a monthly lease rent of ₹ 1.5 lakhs, in addition to interest free refundable Lea
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ance of litigation in future with respect to value of supply? Does acceptance of lease rent deposit of ₹ 20 crore which is nearly 50% of the market value of asset to be leased, justify the lower lease rent. Should ABC Medical Sciences go for GST registration , as the turnover of KIMS is only from Lease Rent which is less than threshold limit of ₹ 20 Lakhs? – Reply By Alkesh Jani – The Reply = Sir/Madam,In my point of view, the reply is as follows:-1. Deposit given in respect of the supply of goods or services or both shall not be considered as payment made for such supply unless the supplier applies such deposit as consideration for the said supply i.e. to say if the said deposit will be appropriated against the pending rent, th
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =