TaxTMI 
TaxTMI 
TaxTMI 
Taxability of surrender of tenancy rights
X X X X Extracts X X X X
X X X X Extracts X X X X
....axability of surrender of tenancy rights<br> Query (Issue) Started By: - Prateek Jaju Dated:- 23-8-2023 Last Reply Date:- 23-8-2023 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>A religious ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....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 individual. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....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 GUNASEKARAN K: ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....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 form of tenancy pr....
X X X X Extracts X X X X
X X X X Extracts X X X X
....emium 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 the tenancy right....
X X X X Extracts X X X X
X X X X Extracts X X X X
....s 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 circular in this conte....
X X X X Extracts X X X X
X X X X Extracts X X X X
....xt. Tenancy rights taxability under GST -- Clarification Circular No. 44/18/2018-CGST, dated 2-5-2018<br> Discussion Forum - Knowledge Sharing ....