GST ON RENTING OF COMMERCIAL SPACE
This query is : Resolved
Quick Summary
Shalini RN
(Querist)
15 May 2023
Dear Sir/Madam,
Ours is a Proprietorship concern and we are registered GTA. Our proprietor has rented out commercial space and raises the Rental Invoice under the GST number of our business i.e., Transportation of Commercial vehicles. Upto last financial year we were in RCM method and paid the GST charged to Tenants on monthly rent through cash. But for current financial year we have opted FCM. Now my query is whether can we set off the liability of GST payable which is charged to Tenants against the ITC of purchases made for GTA Business as rental income from renting out of commercial space does not form part of GTA business.
Thank you,
Ours is a Proprietorship concern and we are registered GTA. Our proprietor has rented out commercial space and raises the Rental Invoice under the GST number of our business i.e., Transportation of Commercial vehicles. Upto last financial year we were in RCM method and paid the GST charged to Tenants on monthly rent through cash. But for current financial year we have opted FCM. Now my query is whether can we set off the liability of GST payable which is charged to Tenants against the ITC of purchases made for GTA Business as rental income from renting out of commercial space does not form part of GTA business.
Thank you,
CA R SEETHARAMAN
(Expert)
16 May 2023
No ITC can be claimed on rental income as it does not form part of GTA business.
Shalini RN
(Querist)
16 May 2023
Thank you very much Sir
CA R SEETHARAMAN
(Expert)
16 May 2023
You are welcome..
....
....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Oct 2025 Invoices
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
