gst on rent

Page no : 2

g mahesh Mundra (Business and tax consultant) (3299 Points)
Replied 02 October 2017

whatever it maybe but you are doing businesses in residential property means it's business income

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CA Rashmi Gandhi (Chartered Accountant) (86495 Points)
Replied 03 October 2017

Turnover means all supplies made by you i.e. Rant received,sale or other income.

20 lakh limit is for aggregate turnover of all.

CA Rashmi Gandhi (Chartered Accountant) (86495 Points)
Replied 03 October 2017

When residential property used as business than no exemption allowed in GST

NITIN MANGLA (ACCOUNTANT) (278 Points)
Replied 03 October 2017

agree with rashmi

alokmantri1997@gmail.com (24 Points)
Replied 03 October 2017

thank you so much

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RAMESH (AUDIT ASST) (56 Points)
Replied 03 October 2017

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.

RAMESH (AUDIT ASST) (56 Points)
Replied 03 October 2017

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.

Abhinandan (student) (140 Points)
Replied 03 October 2017

rent is paid once for a month .. how to apply 9(3) of agreegate 5000 per day limit on it. ???

Abhinandan (student) (140 Points)
Replied 04 October 2017

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 ??

g mahesh Mundra (Business and tax consultant) (3299 Points)
Replied 04 October 2017

rent is paid always in lumpsum

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g mahesh Mundra (Business and tax consultant) (3299 Points)
Replied 04 October 2017

means for month or for a week no daily basis rent

Amit Mohan Pandey (Practising chartered accountant) (371 Points)
Replied 04 October 2017

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