Easy Office
LCI Learning

Gst applicable on commercial shops rented by partnership fir


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.

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...

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.




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.

11 October 2017 Plz clear meaning of RCM under Gst law

12 October 2017 Yes if your rental income is below 8 lakh then you can surrender your GST Registration.

12 October 2017 RCM means a person receiving service has to pay tax instead of supplier.

12 October 2017 Thank for guiding me




13 October 2017 Welcome.......



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries