Case-Laws – GST – Highlights – The Advance Ruling Authority held that the applicant, being the lessor and registered supplier of services for leasing a commercial property, is liable to remit Goods and Services Tax (GST) on the lease consideration u/s 9 read with Section 15 of the GST Act. The leasing of a commercial property to the Government of Andhra Pradesh for setting up the Institution of Lokayukta is a supply of service subject to GST at 18% (SAC code 997212). The applicant cannot rely on Notifications 4/2022 and 5/2022, which pertain to residential dwellings and are inapplicable to the leasing of commercial property. The essence of a lease involves the transfer of possession and user rights against consideration, and the lessor retains the right to possession after the lease term. – TMI Updates – Highlights, quick notes, marquee, annotation, news, alerts Tax Management India – taxmanagementindia – taxmanagement – taxmanagementindia.com – TMI – TaxTMI – TMITax
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