Nri res flat in india lease to pvt co for guesthouse

This query is : Resolved

nitin_agarwalla (Querist)
Follow

09 September 2018 I own a residential flat in Guwahati jointly with my wife. We are both living in UAE since the last 8 years. This flat was booked by me in 2013 and I got possession in 2018. I now plan to furnish and lease out this flat to a pvt ltd company for use by them as a guest house. The rent is Rs. 30000 per month. The maintenance charge from the building society is Rs. 5000 per month.My queries in respect of GST are as follows:

1. Is this lease of furnished flat to the company taxable under GST?
2. The flat is under joint ownership. Is the registration required separately for the joint owners?
3. Will we be treated as Non resident taxable persons for this supply? We do not have any other establishment/ business in India except this flat.
4. What is the registration threshold for us - Rs. 0? Rs. 10 Lacs (Assam) or Rs. 20 Lacs
5. How much GST will be chargeable on the rent and maintenance charge?
6. We have paid VAT, Service Tax and GST to the builder between 2013-2018. Can we get a credit of all the taxes paid although we were not registered at that point in time?
7. What are the conditions for availing input tax credit?
8. What is the return filing periodicity?

CA Anita Bhadra

CA Anita Bhadra (Expert)
Follow

09 September 2018 Though , leasing residential property to company is taxable @ 18% and place of supply for immovable property is the
place where the property is situated , still you are not liable for GST registration & payment as your aggregate turnover ( rent receipt ) is Rs less than Rs 20L/10 L ( 30000*12 = 3,60,000/)

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

raval umesh

Akhila Ajayan

santhosh singireddy

Rajat Khandelwal

CA Rahul Patwardhan

Subscribe Now

Nri res flat in india lease to pvt co for guesthouse

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA