Nil
2791 Points
Joined November 2017
Will renting out a property attract GST now?
According to the GST Act, renting out of an immovable property would be treated as a supply of services. GST, however, will be applicable only to certain types of rent such as:
- When a property is given out on lease, rent, easement, or licensed to occupy
- When any property is leased out (or let out) including a commercial, industrial, or residential property for business (either partly or wholly)
These type of renting is considered as a supply of services and thus would attract tax.