Applicability of GST on rental income
This query is : Resolved
25 June 2020
Sir,
A private limited construction company having 6 Cr turnover builds a complex for residential purposes and want to let out the same on completion. Is the rental income from residential complex attract GST?? Kindly advice.
thanks
A private limited construction company having 6 Cr turnover builds a complex for residential purposes and want to let out the same on completion. Is the rental income from residential complex attract GST?? Kindly advice.
thanks
25 June 2020
If the residential property is let out for residential purpose, it is exempt from GST. Any other type of lease or renting out of immovable property for business would attract GST at 18 %.
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