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GST on Rent Income
Rent Income Receive in current account so GST applicable or not, and if applicable than what is rate of GST apply ?
Replies (5)
Whether rental income is belongs to residential or commercial.
if commercial then 18% will be charged
if commercial then 18% will be charged
If the rental income from Commercial Property then GST applicable @ 18%. weather if it's received through current account or Savings account or cash**...
Received through anymore
GST attracts 18%
GST attracts 18%
If the business of the assessee is renting of property and rental amount is exceeding the exemption limit, then GST is applicable @ 18%. Renting of residential property is exempted from GST
Rent for Residential property is Exempted under Notification 12/2017 CT (R) , hence no GST Applicable on same . Yes if it is from Commercial property it's taxable & GST @ 18% is applicable
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