Monday, September 21, 2020

GST: Notional Interest on Security Deposit, Property Tax forms part of ‘Rental Income’, if it influences the Value of Supply, rules AAR [Read Order]

The Karnataka Authority for Advance Ruling (AAR) has adjudged that no deduction towards property taxes is allowed from the value of renting of immovable services (RIS). Further notional amount of interest on security deposit would be included in value, only if it influences the monthly rent. The Applicant M/s Midcon Polymers Pvt Ltd, have proposed […]

from Taxscan | Simplifying Tax Laws https://ift.tt/3cfHX3J

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