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Gst on rent
we received rent from unregister dealer is gst applicable
Replies (6)
As per Sec 9(4) of CGST Act, if a registered person purchases goods/services from an unregistered dealer (URD) then the registered taxpayer is liable to pay GST on reverse charge basis( only for certain goods/services & registered persons). All the provisions of the Act will apply to such recipient as if he were the person liable for paying the tax in relation to the supply of goods or services.
Rent received from Residential House Property or Commercial Property ???
If you received rent for providing residential house then no need of GST.If you received rent for providing land,building for commercial purpose and if the rent amount is more than 5000 then Reverse charge mechanism would applicable.Then GST on rent need to be payable on RCM Basis
@ Sarika kodare
unless you are not register under GST you are not eligible to collect GST.
since you are supplying of renting service to dealer who is use the property for business purposes. so you need to register under GST only when the rent received by you exceeds threshold limit of 20/10 lakhs which ever is applicable.
Hance GST applicable only when you are registered.
unless you are not register under GST you are not eligible to collect GST.
since you are supplying of renting service to dealer who is use the property for business purposes. so you need to register under GST only when the rent received by you exceeds threshold limit of 20/10 lakhs which ever is applicable.
Hance GST applicable only when you are registered.
Any inward supply from URD, No RCM is applicable . hence No need not pay any GST
Residential House Property : No GST applicable.
Commercial Property : GST applicable on Rental Income if exceeds Rs. 20 lakhs.
Commercial Property : GST applicable on Rental Income if exceeds Rs. 20 lakhs.
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