Transfer of 'tenancy rights' taxable as "services"; But, premium towards residential dwelling exempt

Finance Ministry  (TRU) issues clarification on taxability of ‘tenancy rights’ under GST, states that such activity against consideration in the form of tenancy premium constitutes a “supply of service” liable to GST; Explains that it is a form of lease or renting of property and such activity is specifically declared to be a service in Para 2 of Schedule II, i.e. any lease, tenancy, easement, license to occupy land is a supply of service; As regards levy of...