GST on Rent

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9 Points Posted on 10 July 2017
Property is rented to a bank and rent is 11 lake per year. GST is applicable on this?
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On 10 July 2017 at 17:30 Report
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Finance Professional
3931 Points Posted on 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.

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On 10 July 2017 at 17:33
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MANAGER
1344 Points Posted on 10 July 2017

GST not applicable for landlord in your case as threshold limit is 20 lakhs.

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On 10 July 2017 at 17:36
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9 Points Posted on 10 July 2017
I have no other income then?
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On 10 July 2017 at 17:38
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Finance Professional
3931 Points Posted on 10 July 2017

If youndont have other income then you are not eligible under GST TO pay tax.

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On 10 July 2017 at 17:50
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Practising CA
443 Points Posted on 10 July 2017
But bank should have to deposit the gst undsr the rcm. If you are not registered
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On 10 July 2017 at 19:43

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