Gst applicable

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2019 A Society registered under Sec 12AA of Income Tax Act 1961 has leased out the entire Ground floor to the Banking company inside the compound of Land and building of the Society at monthly rent above RS 1.50 lacs per month. Will it attract GST. If yes , Is reverse charge mechanism applicable.

Udaya Chandran

Udaya Chandran (Expert)
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12 January 2019 If the society is not registered and having the turnover within the limit of Rs.20 Lacs including the rental service, then GST is not applicable.