Gst on property rent
This query is : Resolved
DWAIPAYAN TEWARI
(Querist)
13 January 2018
Sir,
I own a property in midnapore town jointly with my father. it is let to a bank for yearly rent of Rs.3,80,000.00.
The bank forced us to go in for GST registration by withholding the rent for 6 months stating that they cannot pay rent without gst, now they made a payment of 5 months overdue rent without GST. We do not have any other source of income. now i have two queries.
1. do i need to be registered under gst
2. do i need to pay gst on the rent recieved
I own a property in midnapore town jointly with my father. it is let to a bank for yearly rent of Rs.3,80,000.00.
The bank forced us to go in for GST registration by withholding the rent for 6 months stating that they cannot pay rent without gst, now they made a payment of 5 months overdue rent without GST. We do not have any other source of income. now i have two queries.
1. do i need to be registered under gst
2. do i need to pay gst on the rent recieved
Renu Goyal
(Expert)
13 January 2018
No since your turnover is less than Rs 20 lakhs you are not required to take registration.
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