Composition Scheme under GST on rent

This query is : Resolved

U S Sharma (Querist)
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18 September 2024 Rental service of non residencial property,

the landlord is not registered under GST, and in coming years the threshold limit of 20 Lakhs will cross by few thousand rupees

No other business activity of the individual, as he is a aged and retired person

May the landlord aval benefits under composite levy scheme of GST?

Can he get relief of mandatory rgistration of GST after 20L, under the present update of 54th GST council meeting update, i.e commercial property rentals under RCM charge mandaroty?

Please reply

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 September 2024 No relief GST registration is required and forward charge applicable when 20L limit crossed.
You can register under composition scheme of GST upto 50 lacs rental income.

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U S Sharma

U S Sharma (Querist)
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19 September 2024 Thanks

if the GST is applied the4 value will increase, and under the provisions of finance bill 2024, the Income from house property the decuction limit would be followed of 30% or it would go under Profit and Gains of Business and Profession?

as without business accounting method, the income tax would be also levied on GST receipt, if the capping as per FM speech in budget 2024 @ 30% is followed

Please advice

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 September 2024 Show only rental income. Show GST as liability payable.
It's only rental income for which 30% deduction allowed. It's not a business income.

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