Notification no-09/2024- Central tax rate
Dated- 08/10/2024
The CBIC has implemented a Reverse Charge Mechanism for the renting of commercial property from an unregistered person to a registered person to prevent revenue leakage.
In exercise of the powers conferred by sub-section (3) of section 9 of the Central Goods and Services Tax Act, 2017 (12 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), number 13/2017-Central 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. 692(E), dated the 28th June, 2017, namely:-
1. In the said notification, in the Table, after serial number 5AA 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) |
| 5AB | 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 day of October, 2024.
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