GST on Notional rent
Query (Issue) Started By: – kamalakara ks Dated:- 17-9-2017 Last Reply Date:- 25-9-2017 Goods and Services Tax – GST
Got 6 Replies
GST
Industrial building given on lease basis . Lease amount is ₹ 600 lacks interest free deposit which is refundable after the expiry period of 6 years . No monthly rent . How valuation of rental income for the purposes of GST payment . How GST invoice to be issued. How tenant take GST credit as he is not paying monthly rent .
\nReply By Rajagopalan Ranganathan:
\nThe Reply:
\nSir,
\nAccording to Section 7 (1) (a) of CGST Act, 2017 " the expression “supply” includes all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, <\/p>\n
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