Union Territory Tax Amendment: Residential Dwelling Rental
Government's Authority:
G.S.R. (E) exercises powers under the Union Territory Goods and Services Tax Act, 2017, amending tax regulations.
Exemption Explanation:
Clarification added to S. No. 12, ensuring exemption covers residential dwelling rental for registered persons who rent in a personal capacity.
Specific Exemption Conditions:
The exemption explicitly applies when the registered person is a proprietor of a proprietorship concern, renting for personal use as their residence.
Scope of Renting:
Emphasizes that such renting should be on the account of the individual and not the proprietorship concern.
Entry Omission:
S. No. 23A and related entries removed, reflecting a streamlined approach in the Union Territory tax structure.
Operational Date:
Effective from January 1, 2023, the amendments aim to enhance clarity and align with public interest.
Regulatory History Reference:
Refers to the principal notification dated June 28, 2017, with the latest amendment on July 13, 2022.
Note: The amendment brings precision to residential dwelling rental exemptions, offering clear conditions for registered persons, contributing to a transparent tax framework.