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gst on rent
whatever it maybe but you are doing businesses in residential property means it's business income
Turnover means all supplies made by you i.e. Rant received,sale or other income.
20 lakh limit is for aggregate turnover of all.
20 lakh limit is for aggregate turnover of all.
When residential property used as business than no exemption allowed in GST
agree with rashmi
thank you so much
Rent paid on residential house is attract gst rate is 0%, and then Rant paid on commercial purposes u have to pay 18% on RCM basics. and claim input tax.
if u rent paid below 5000 no need to pay RCM, 5000 means actually u rent paid that date any expenses cannot exceed 5000 from unregistered person.
rent is paid once for a month .. how to apply 9(3) of agreegate 5000 per day limit on it. ???
do we have to allocate the rent amount in days and check whether it crosses the 5000 limit per day and then pay on rcm ??
rent is paid always in lumpsum
means for month or for a week no daily basis rent
Dude, threshold limit of 20 lak will not apply if person falling under RCM mechanism. He has to take registration if he is paying rent above 5000 for commercial property then registration must.
also landowner can take registration also.then in this case, provision very simple
You can't distribute rent month wise... You have to pay RCM at the tym of payment if amt is more than Rs 5000/-
Thank u all... doubt cleared 👍
i thought rent being a continuous supply .. chargeable on pro rata basis could apply...
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