Premium received is taxable under gst
This query is : Open
13 February 2018
PREMIUM (NON- REFUNDABLE) RECEIVED ON RENTING OF COMMERCIAL PROPERTY BESIDES RENTAL INCOME. SINCE THIS PREMIUM IS RECEIVED FROM TENANT ONCE DURING LEASE PERIOD SO WE HAVE CONSIDERED THIS PREMIUM AS CAPITAL RECEIPT. I WOULD LIKE TO KNOW WHETHER THE PREMIUM RECEIVED BY LANDLORD IS TAXABLE UNDER GST?
13 February 2018
Yes... If it's non-refundable then GST will be charged as Advance even Landlord is registered...
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