RCM ON RENT.....TO COMPOSIT GST DEALER
This query is : Resolved
20 December 2024
IF ANY...COMPOSIT DEALER....
PAY RENT 15000....IS GST APPLICABLE....
RENT RECEIPTS RECD..... ON WHICH....NO GST...CHARGED....
EXPLIAN IN DETAILES...IF POSSIBLE....
COMPOSITION DEALER........PAYING RENT..........REGISTERED IN GST..
OWNER..RECEVEING RENT.........UN-REGISTERED UNDER GST
PAY RENT 15000....IS GST APPLICABLE....
RENT RECEIPTS RECD..... ON WHICH....NO GST...CHARGED....
EXPLIAN IN DETAILES...IF POSSIBLE....
COMPOSITION DEALER........PAYING RENT..........REGISTERED IN GST..
OWNER..RECEVEING RENT.........UN-REGISTERED UNDER GST
20 December 2024
As per Notification No. 09/2024 - Integrated Tax (Rate) dated 8th October, 2024, if a Composition Dealer (registered under GST) rents a commercial property from an unregistered landlord, the tenant (Composition Dealer) must pay GST under the Reverse Charge Mechanism (RCM). This means the responsibility of paying GST shifts from the unregistered landlord to the registered tenant. Composition dealers cannot claim Input Tax Credit (ITC) on the GST paid under RCM.
For details refer:: https://www.caclubindia.com/articles/rcm-on-properties-rented-from-unregistered-landlords-challenges-for-composition-taxpayers-and-some-relief-strategies-52803.asp?form=MG0AV3
For details refer:: https://www.caclubindia.com/articles/rcm-on-properties-rented-from-unregistered-landlords-challenges-for-composition-taxpayers-and-some-relief-strategies-52803.asp?form=MG0AV3
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