A lease is a contractual arrangement between Owner (lessor) & user (lessee) whereby one party, the lessor, grants the right to use a particular assets (such as a parcel of land, building, equipment, or machinery etc) for a specific period and under specified conditions to the other party, the lessee.
The levy of tax on supply of goods and / or services can be grouped under three categories :- (i) in the hands of the supplier or (ii) in the hands of the recipient of goods / services under reverse charge mechanism and, (iii) in case of specified services, in the hands of electronic commerce […]
Under Section 11 of the CGST Act,2017 the Central or the State Governments are empowered to grant exemptions from tax, subject to the following conditions: (i) Exemption should be in public interest
