GST leviable under RCM for Premium on Lease Renewal Amount Payable to Surat Municipal Corporation: AAR [Read Order]

GST - reverse charge mechanism - Lease Renewal Amount Payable - Surat Municipal Corporation - AAR - taxscan

The Gujarat Authority for Advance Ruling (AAR) observed that GST is leviable under reverse charge mechanism (RCM) for premium on lease renewal amount payable to Surat Municipal Corporation. Surat Textile Market, the applicant is built on 24,435 sq. mtr. of land, leased by the Surat Municipal Corporation [SMC’]. The said lease expired in the year 2018….

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