GST DAILY – 310

Stay Yourself  Updated  on GST

GST to be paid on entire increased rent received for period 01.09.2005 to 31.08.2022: AAR 01 Aug 2024

BEFORE THE AUTHORITY FOR ADVANCE RULING UNDER GST, TAMIL NADU In re :Metropolitan Transport Corporation

Advance Ruling No. 12/ARA/2024, decided on 25-6-2024

👉 THE  ADVANCE AUTHORITY RULING:-

✔️ Where applicant-assessee had entered into contract for provision of renting of immovable property services and intends to revise price upwards, therefore, as per Section 142, collection of increased rents for past period i.e. 01-09-2005 to 30-06-2017 shall also be treated as “supply” under Goods and Services Tax and entire increased rent amount for period from 01-09-2005 to 31-08-2022, shall be liable to Goods and Services Tax.

Section 142 of Central Goods and Services Tax Act, 2017