Taxability of surrender of tenancy rights

X X   X X   Extracts   X X   X X

→ Full Text of the Document

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

→ Full Text of the Document

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

→ Full Text of the Document

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

→ Full Text of the Document

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

→ Full Text of the Document

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

→ Full Text of the Document

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

→ Full Text of the Document

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

→ Full Text of the Document

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

→ Full Text of the Document

X X   X X   Extracts   X X   X X