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gst on rent

Others 397 views 14 replies

Manish gupta

Proprietor

5 Points Posted on 17 September 2017

I am composition register dealer and my land lord not register who will be pay

Replies (14)

CA Sanjay Kumar Maharana

SENIOR OFFICER(ACCT)

184 Points Posted on 17 September 2017

U have to pay under RCM

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 17 September 2017

Yes. I agreed to CA Sanjay Kumar.

@ Manish Gupta.,

You are the service receiver. So, You can pay tax under RCM basis. Tax Rate @ 18%

sebastian

STUDENT

131 Points Posted on 17 September 2017

sir will the limit of below 5000 will apply to rent rcm paid to unregistered landlords

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 17 September 2017

Yeah....
Exactly apply for the 5k limit to rent. You can pay rent less than 5k also any others expenses not in that day. You can use the limit...

Nair Manish Mani

Student

141 Points Posted on 17 September 2017

Reverse Charge Mechanism @ Manish_Gupta

CA Sanjay Kumar Maharana

SENIOR OFFICER(ACCT)

184 Points Posted on 17 September 2017

Rs 5000/- limit is per pay per Gstn.also upto 5000/- is exempt of total exp.if it exceed per day limit then not only excess amount but total amount will be charged ti gst...

sebastian

STUDENT

131 Points Posted on 17 September 2017

thankyou sir

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 17 September 2017

Yes... RCM applicable whole amount. Not, only excess amount...

Nair Manish Mani

Student

141 Points Posted on 17 September 2017

Whole amount exceeding Limit will be taxable

Manish gupta

Proprietor

5 Points Posted on 18 September 2017

but my shop rent 49500

Manish gupta

Proprietor

5 Points Posted on 18 September 2017

49500 pahle hi kiraya jyada hai es par gst 9000 or dena pada to mujhe shop hi chhodna padegi

Nair Manish Mani

Student

141 Points Posted on 18 September 2017

whole amount will be taxable.... in my point of view... In this case you have deduct TDS at 10% if your total sales/gross receipts/turnover from business exceeds Rs 1crore or 50 lakh in case of profession during the F.Y immediately preceeding the F.Y