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Reverse charge on renting of immovable property

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(Querist)
12 August 2017 Whether a bank paying rent of Rs. 15000 pm need to deduct gst under reverse charge basis. Tenant has no other property let out for commercial purpose and has other income less than 5 lakh p.a.
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CA. Vinodh Kothari

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CA. Vinodh Kothari (Expert)
12 August 2017 Bank will only deduct TDS. Bank should not deduct GST from the Rent payable to you. You are not required to register under GST as your turnover is less than Rs.20 Lakhs.

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ramesh

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ramesh (Querist)
12 August 2017 Thank you very much sir.
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