30 March 2017
we have let out our residential property to a person running P.G.(Paying Gest ) . Now as per GST Act shall we liable to pay GST on rent recd from him from july 2017. please give your valuable advise. thanks in advance. K.B.NAGESHA RAO 9448826793 kbnagesha @gmail.com
31 March 2017
As per Current CGST Bill passed in LokSabha, GST is applicable on renting of residential spaces. But We should wait for ful-fledged legislation, there may be a possibility of exemptions on Renting of residential space in line with existing service tax law where only Commercial spaces are taxable.
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