Gst applicable on commercial shops rented by partnership fir
This query is : Resolved
Rajendra mohta
(Querist)
07 October 2017
I wish to ask a query that I have rented my factory premises to commercial shops having registered as partnership firm having annual rented of Rs 8lacs.
will I have to charge 18% GST on shops and pay to govt or I am exempted as rental value is below Rs 20lacs as threshold limit.
will I have to charge 18% GST on shops and pay to govt or I am exempted as rental value is below Rs 20lacs as threshold limit.
07 October 2017
No Exempted...
The Commercial Property in Partnership Firm. If the firm is Registered under GST then You ll be receive Rental with Tax and pay to govt...
Threshold limit is only consider as registration require/Not purpose. Once registered all laws applicable based on Registration as RD/CRD...
The Commercial Property in Partnership Firm. If the firm is Registered under GST then You ll be receive Rental with Tax and pay to govt...
Threshold limit is only consider as registration require/Not purpose. Once registered all laws applicable based on Registration as RD/CRD...
CA Rashmi Gandhi
(Expert)
08 October 2017
If ypu are register in GST then you have to charge GST on such income even if your turnover is below Rs 20,00,000.
If you are unregister in GST & partnerahip firm registered then it will pay GST under RCM.In that case you are not required to charge GST.
Rajendra mohta
(Querist)
11 October 2017
Thanks for reply.
As I am getting rent only 8lacs per year.
I will surrender my GST registeration.
So that I will not have to pay Gst from rent collected from shops.
As I am getting rent only 8lacs per year.
I will surrender my GST registeration.
So that I will not have to pay Gst from rent collected from shops.
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Rajendra mohta
(Querist)
11 October 2017
Plz clear meaning of RCM under Gst law
CA Rashmi Gandhi
(Expert)
12 October 2017
Yes if your rental income is below 8 lakh then you can surrender your GST Registration.
CA Rashmi Gandhi
(Expert)
12 October 2017
RCM means a person receiving service has to pay tax instead of supplier.
Rajendra mohta
(Querist)
12 October 2017
Thank for guiding me
Message likes :
1 times
CA Rashmi Gandhi
(Expert)
13 October 2017
Welcome.......
31 October 2026
After surrendering registration, the firm (if registered under the regular scheme) now pays 18% GST on your rent under RCM u/s 9(3) since 10 Oct 2024 and can claim it as ITC; if the firm is a composition taxpayer, no RCM applies from 16 Jan 2025, and you as landlord need registration only above Rs 20 lakh.
CA Rashmi Gandhi
(Expert)
31 October 2026
Ashok Kumar ji, why are you responding to queries dating back to 2017? Kindly focus on the current queries and issues instead of replying to outdated discussions
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