Rent under RCM
This query is : Resolved
29 July 2022
I am a partner in one firm(Tenant). Firm paid per month 30000 rent for the use of my(Owner) premises.
The firm (Tenant) uses these Premises for commercial purposes .
I (Owner)am not registered under GST.
Then my question is RCM is required to be paid by the firm as per new rule of rent 13.07.2022?
I am a partner in one firm(Tenant). Firm paid per month 30000 rent for the use of my(Owner) premises.
The firm (Tenant) uses these Premises for commercial purposes .
I (Owner)am not registered under GST.
Then my question is RCM is required to be paid by the firm as per new rule of rent 13.07.2022?
29 July 2022
Yes, under RCM ..
30 July 2022
Sir,
How to RCM applicable can you please explain? it is not use for residential purpose and notification number 05/2022 CGST Dt. 13-07-2022 is said about residential.
How to RCM applicable can you please explain? it is not use for residential purpose and notification number 05/2022 CGST Dt. 13-07-2022 is said about residential.
30 July 2022
If its residential premises, then GST on RCM basis will apply, even if firm uses it for commercial purpose. But if its commercial space, then GST applies under forward charge.
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