Kindly share your views on the below described issue with notification/circular/case study:
Company having all his business and registration in West Bengal owns a residential property at Odisha. The mentioned property rented out to a registered company of Odisha as residential property used for residential purpose only.
What will be the applicability of GST in the above mentioned scenario? Will it be IGST (RCM) or CGST-SGST(RCM) in the hands of Owner as well as Tenant?
23 October 2024
The property is let out as residential property and used for residential purpose only. There is no other business in Odisha. Total revenue earned form Odisha is below Rs.20 lacs and no tax liability is arising in Odisha.
24 October 2024
But my question is still unanswered. What will be the applicability of GST in the above mentioned scenario? What tax will be recorded in Tax Invoice? Will it be IGST (RCM) or CGST-SGST(RCM) in the hands of Owner as well as Tenant?
24 October 2024
Whenever taxable supply, CGST+SGST of Odisha state will be applicable. RCM will apply only when supplier is URD, otherwise supplier has to charge under FCM.
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