X has given his shop on rent to Y for wine shop business. Y is exempt from GST (liquor sale) and has not taken GST registration. Is X supposed to recover GST from Y? At what percentage? How can Y claim refund of this GST as he is exempt.
Menu
GST on shop given on rent to wine shop
Replies (5)
Quick Summary
Yes, if the property's rent is more than Rs. 20 lacs in a financial year or the owner is registered or liable for registration under GST then the GST has to be charged on the rent. GST shall be charged at @ 18%.
In case of any further queries, kindly mail me at casoravgupta @ gmail.com
Thanks & Regards
CA. Sorav Gupta
(Practicing Chartered Accountant)
For all commercial spaces that are on rent, GST will be applicable at 18% on the taxable value and rent would be treated as a taxable supply of service. Y cannot claim GST IT WILL BE TREAT AS A B2C Supplies.
Gst on shop
Agreed with Mr. Bhagwat
Wine is not within the purview of gst .
Recent Topics :
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
Related Topics :
CAclubindia
