Reverse charge on renting of immovable property
This query is : Resolved
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.
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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