G.st. rate on rent

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k.b.nagesharao

k.b.nagesharao (Querist)

22 June 2017 WHAT IS THE RATE OF G.S.T. ON RENTING OF COMMERCIAL PROPERTY. ,SHELL WE USE THE G..S.T. PAID ON RENT TO REPAY THE G.S.T COLLECTED ON BUSINESS, PLEASE CLARIFY AS EARLY AS POSSIBLE.
THANKS IN ADVANCE
K.B.NAGESHA RAO
9448826793
kbnagesha@gmail.com

CA Shubhanshu Jain

CA Shubhanshu Jain (Expert)

22 June 2017 If Rent is paid for property from where business is being carried out then yes credit on same can be availed otherwise not because
As per section 16(1) credit of only those inputs can be claimed which are used or intended to be used during the course or for furtherance of business

k.b.nagesharao

k.b.nagesharao (Querist)

04 July 2017 we are doing business in a rented shop on which we have paid service tax on rent for 1st quarter. during that period we have not registered under service tax, but registered under vat. shall we claim the service tax so paid on rent as sgst and cgst..Your valuable reply in this regard is most helpful. Thanks in advance.

CA Shubhanshu Jain

CA Shubhanshu Jain (Expert)

06 July 2017 No you cannot take credit of service tax paid on rent because under pre GST regime you are not eligible for that credit only those credits are carried forward under transitional provisions for which who can also claim credit in pre gst regime.

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