This discussion clarifies GST implications for owners of residential buildings generating rental income. If annual rent surpasses £20,000, registration and monthly invoicing with GST components may be required. The content also touches upon Reverse Charge Mechanism (RCM) applicability for GST-registered individuals from July 18, 2022.
24 July 2022
Dear All, If the total rent from residential building is exceeds 20 lakhs per year shell the owner get registered under gst and to issue Rent invoice every month with gst component and submit returns every month. Please kindly advice in this regard, Thanks in advance, K.B.Nagesha rao