We have rented a commercial property. An agreement is for 5 years & Rent is Rs.5 Lakhs p.m .When to apply for registration under GST on exceeding the threshold limit of Rs.20 Lakhs and when we have to charge GST from Re1/- or after exceeding rent amount of Rs.20 Lakhs. . Please advise.
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GST on Rent exceeding Rs.20 Lakhs
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Once you took registration you are liable to pay gst on entire total turnover. in other words if you collect 1 rupee after the registration allotted by gst dept, you must charge gst at the prescribed rate.
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