GST on Rent
Devyani Vengurlekar (9 Points)
10 July 2017
Property is rented to a bank and rent is 11 lake per year. GST is applicable on this?
Devyani Vengurlekar (9 Points)
10 July 2017
upasana gupta
(Finance Professional)
(3931 Points)
Replied 10 July 2017
Yes you have rented for commercial purpose then it will be taxed at the rate of 12%,if your turnover is above 20 lacs including your rental income and other incomes from other businesses.
CA Sukesh Bhatia
(MANAGER)
(1344 Points)
Replied 10 July 2017
GST not applicable for landlord in your case as threshold limit is 20 lakhs.
upasana gupta
(Finance Professional)
(3931 Points)
Replied 10 July 2017
If youndont have other income then you are not eligible under GST TO pay tax.
CA Puspendra Jain
(Practising CA)
(338 Points)
Replied 10 July 2017
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