Notional interest earned on refundable security deposit is not 'consideration' for supply of renting services
Last updated: 08 February 2021
Court :
Karnataka AAR
Brief :
The Hon'ble AAAR Karnataka, in the matter of M/s. Midcon Polymers Pvt. Ltd. [Order No. KAR/AAAR/01/2020-21, dated January 11, 2021] held thatthe property tax paid to the Municipal Authority cannot be deducted from the monthly rental income for arriving at the value of supply of the renting service. However, the notional interest on the security deposit shall not be taken into consideration for the purposes of arriving at total rental income.
Citation :
Order No. KAR/AAAR/01/2020-21
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Bimal Jain
Published in GST
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