Question ID :
37979
GST on Notional Income
A GST registered person gives away commercial space to a trader by taking quite a large amount as refundable deposit. The understanding is the trader will use the space for business purpose for a period of 7 years without payment of any rent, after expiry of 7 years he has to surrender the place back to the Landlord who will return the large deposit received.
As per Income Tax Law the landlord has to pay Income tax on the notional rental income in respect of above arrangement.
I would like to know GST implication on the Land lord in the above circumstance.
posted by
Ethirajan
on
Feb 14 2019 12:00AM