To address revenue leakage, the 54th GST Council meeting on September 9, 2024, recommended applying the Reverse Charge Mechanism (RCM) to the renting of commercial property by unregistered persons to registered persons. This proposal raises key questions about the definitions of 'property' and 'commercial property' and its impact on past cases, as GST is currently not applied in such transactions. This article reviews these concerns.
Note: Based on the 54th GST Council Meeting press release; CBIC has not yet issued a formal Notification.
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