The Ministry of Finance, through Notification No. 09/2024-Integrated Tax (Rate), dated October 8, 2024, introduces an amendment to the Integrated Goods and Services Tax (IGST) Act, 2017. This amendment adds a new provision, which applies to services related to renting any property other than residential dwellings. According to the notification, when an unregistered person rents out a non-residential property, the registered person receiving the service will be responsible for paying the tax. This change amends Notification No. 10/2017-Integrated Tax (Rate) and is effective from October 10, 2024. The adjustment aligns the tax liability for commercial property rentals between unregistered and registered persons under IGST.
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 09/2024-Integrated Tax (Rate) | Dated: 8th October, 2024
G.S.R. 625(E).— In exercise of the powers conferred by sub-section (3) of section 5 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue),notification no. 10/2017 -Integrated Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 685(E), dated the 28th June, 2017, namely:-
1. In the said notification, in the Table, after serial number 6AA and the entries relating thereto, the following serial number and entries relating thereto in columns (2), (3) and (4) shall be inserted, namely: –
| (1) | (2) | (3) | (4) |
| “6AB | Service by way of renting of any property other than residential dwelling. | Any unregistered person |
Any registered person.” |
2. This notification shall come into force with effect from the 10th October, 2024.
[F. No. 190354/149/2024-TO(TRU-II) – Part-I CBEC]
DILMIL SINGH SOACH, Under Secy.
Note: – The principal notification no. 10/2017 -Integrated Tax (Rate), dated the 28th June, 2017 was published in the Gazette of India, Extraordinary, vide number G.S.R. 685 (E), dated the 28th June, 2017 and was last amended vide notification no. 14/2023 -Integrated Tax (Rate), dated the 19th October, 2023 published in the official gazette vide number G.S.R. 766(E), dated the 19th October, 2023.
