9911796707
TMI Blog2025 (3) TMI 161X X X X Extracts X X X X X X X X Extracts X X X X ..... Act/ UTGST Act/ GST (Compensation to States) Act shall therefore form a part of the value of supply on which GST will be levied.
In the instant case, value of supply would be inclusive of municipal property tax and tax under the GST Act is payable on such value. X X X X Extracts X X X X X X X X Extracts X X X X ..... 1st April, 2020, Andhra Bank and Corporation Bank were amalgamated into Union Bank of India in pursuance of an amalgamation scheme notified by the Central Government vide gazette notification dated 4th March, 2020. 1.4 The applicant has made this application under sub section (1) of section 97 of the GST Act and the rules made there under seeking an advance ruling in respect of following questions: Whether GST is applicable on reimbursement of municipal property tax by the lessee/occupier? 1.5 The aforesaid questions on which the advance ruling is sought for are found to be covered under clause (e) of sub-section (2) of section 97 of the GST Act. 1.6 The applicant states that the question raised in the application has neither been dec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nments on the due dates. The Bank shall bear 50% of the Property Tax being Occupier share of same, the Commercial Surcharge and Service Tax/Goods and Service tax. * The Bank will however currently pay the occupier share of property tax and the commercial surcharge on the basis of the existing Annual Valuation as evident from the IB1 records of the Kolkata Municipal Corporation and shall be liable to reimburse to the Lessor/Landlord the enhanced amount of occupier's share of Property Tax and Commercial Surcharge as and when the enhanced lease rent becomes recorded in the records of the Kolkata Municipal Corporation. The Bank however shall pay the Service Tax @ 15% of the enhanced lease rent for the period from October 2016 to June 2017 and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ods and Services Tax Act and the Goods and Services Tax (Compensation to States) Act and hence falls within the ambit of section 15 (2) (a) of the CGST Act. 3. Submission of the Revenue 3.1 The revenue officer from Chowringhree Division, CGST&CX has submitted the reply as enumerated below: i. Schedule III under section 7 (2) of the GST Act governs the non-taxable supplies. The consideration received by the taxpayer is not against supplies covered under the schedule III. Hence, the consideration received is against a taxable supply. ii. The value of supply will be determined in terms of section 15 of the GST Act. Section 15(2) clearly mentions that the value of supply shall include any taxes, duties, cesses, fees and charges levied und ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
