GST on Rent Received Individual who has running Business
This query is : Resolved
26 August 2022
Sir,
I would like to clarify some doubt regarding Rental Income received by an Individual from his commercial complex .
i.e. Mr. Venu already running a business in the name of JK Printing & registered with GST .
Now as per latest amendment in GST ,all the (commercial properties )persons should collect GST on rental Income .
Whether the Individual has to collect the GST along with Rental Income In the above case as he has already registered with GST but he has executed the rental agreement in his personal Name ?
Some one says as the property and the individual business are not connected the GST on Rental Income may be subject to RCM .
Which one is correct?
I would like to clarify some doubt regarding Rental Income received by an Individual from his commercial complex .
i.e. Mr. Venu already running a business in the name of JK Printing & registered with GST .
Now as per latest amendment in GST ,all the (commercial properties )persons should collect GST on rental Income .
Whether the Individual has to collect the GST along with Rental Income In the above case as he has already registered with GST but he has executed the rental agreement in his personal Name ?
Some one says as the property and the individual business are not connected the GST on Rental Income may be subject to RCM .
Which one is correct?
26 August 2022
If you are registered dealer running any proprietorship business, also earning rental income on commercial properties, you need to collect GST over the rent income under forward charge, even if you have made agreement in your personal name.
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