GST Impact and Provision
Can anyone tell me what is the impact of GST on pure revenue sharing arrangement between developer and retailer? earlier service tax was exempted.
In this case, the landowner is asking for % of sales against the use of office space
In case the Invoice is raised? what is the nature of service? Tax Provisions?
Chargeability will depend on facts of the case. We need to check whether this particular transaction constitutes a supply or not as it is one of the condition for levy of GST. We need to check the terms of agreement whether consideration is paid in form lease rentals or otherwise.