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Payment of rent


Jyoti Narang (Kkk)     30 June 2020

Jyoti Narang
Kkk 
 18 likes  350 points

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if any payment as rent is made to unregistered person for shop used for business purposes then what's the treatment of it in Gst as well as income tax.

avater

CA Rashmi B (Assistant Manager)     30 June 2020

CA Rashmi B
Assistant Manager 
 39 likes  437 points

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As land Lord is unregistered there will not be any ITC eligible under GsT and under income tax it would be an business expense to be chatged to P/L account.

avater

Jyoti Narang (Kkk)     30 June 2020

Jyoti Narang
Kkk 
 18 likes  350 points

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Is rcm applicable on rent Under Gst.

avater

CA Rashmi B (Assistant Manager)     30 June 2020

CA Rashmi B
Assistant Manager 
 39 likes  437 points

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No RCM not applicable for Rent under GST

1 Like
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Jyoti Narang (Kkk)     30 June 2020

Jyoti Narang
Kkk 
 18 likes  350 points

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It Will be treated as business expense nothing else and tds is to be deducted on this amount

avater

Bhavin Shah (Chartered Accountant)     30 June 2020

Bhavin Shah
Chartered Accountant 
 38 likes  797 points

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Tds is applicable if the amt exceeds the threshold limit

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Jyoti Narang (Kkk)     30 June 2020

Jyoti Narang
Kkk 
 18 likes  350 points

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If actual rent is 20k but in rent agreement it is mentioned as 14k per mth

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ANIL JANGID (MANAGER HR/admin/com)     30 June 2020

ANIL JANGID
MANAGER HR/admin/com 
 67 likes  2959 points

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When you rent out a residential property for residential purpose, it is exempt from GST. Any other type of lease or renting out of immovable property for business would attract GST at 18 %, as it would be treated as a supply of service.
tds applicable if rent excess 240000 per annum.

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Jyoti Narang (Kkk)     30 June 2020

Jyoti Narang
Kkk 
 18 likes  350 points

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Then itc can be claimed or not in Gst return.

avater

CA Rashmi B (Assistant Manager)     30 June 2020

CA Rashmi B
Assistant Manager 
 39 likes  437 points

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In your case supplier is unregistered person so he would not charge gst to avail ITC. therefore you cannot claim


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