dear sir
we are company, paying rent for commercial property taken on lease. our landlord is exempted from GST on basis of turnover. whether as a company we have to pay 18% GST on reverse charge mechanism on rent.
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GST on renting of commercial property
Replies (5)
If your turnover is less than 20 lakhs then you are exempt from providing GST tax.As you have to calcualte the aggregate turnover while calcualting the GST limit.
Yes, RCM gets attracted in your case.
Pay GST and then avail ITC of the same
Pay GST and then avail ITC of the same
RCM will be extra ,say 25000 is rent ,so one will pay rent 25000.00 and then charge 18% GST and get refund ?
Mam I have leased my building for Muthoot finance bank and getting rent after TDS. Now they have sent mail telling they will deduct GST. Is that correct ?? they have to pay GST on existing rent extra right. As they will be getting credit if we bill them. Btb iam registered GST firm.
Mam I have leased my building for Muthoot finance bank and getting rent after TDS. Now they have sent mail telling they will deduct GST. Is that correct ?? they have to pay GST on existing rent extra right. As they will be getting credit if we bill them. Btb iam registered GST firm.
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