https://www.taxtmi.com/caselaws?id=418854 The AAR Tamil Nadu held that a partner providing rent-free property to a partnership firm constitutes a taxable supply under GST. The partner, who owned properties and held 2/3rd partnership shares as Managing Partner, was deemed to be providing services in course of business furtherance. Since the partner and firm are separate but related persons, the rent-free accommodation qualifies as supply without consideration under Section 7(1)(a) read with Schedule I of CGST Act, 2017. The economic benefit accruing indirectly through firm profits makes this a taxable transaction. Valuation must follow Rule 28 of CGST Rules, 2017, using open market value or comparable property rates for related person transactions. en-us Mon, 31 Jan 2022 00:00:00 +0530 Tue, 01 Apr 2025 13:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418854 The AAR Tamil Nadu held that a partner providing rent-free property to a partnership firm constitutes a taxable supply under GST. The partner, who owned properties and held 2/3rd partnership shares as Managing Partner, was deemed to be providing services in course of business furtherance. Since the partner and firm are separate but related persons, the rent-free accommodation qualifies as supply without consideration under Section 7(1)(a) read with Schedule I of CGST Act, 2017. The economic benefit accruing indirectly through firm profits makes this a taxable transaction. Valuation must follow Rule 28 of CGST Rules, 2017, using open market value or comparable property rates for related person transactions. Case-Laws GST Mon, 31 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418854