IF ONE IS GST REGISTERED PERSON AND HIS FACTORY / SHOP/ GODOWN IS ON RENT. WHEATHER RCM WOULD APPLICABLE OR NOT. IF RENT PAID TO URESGITERED PERSON.
AND HIS HOUSE WHERE HE IS LIVING IS ON RENT BUT NO EXPENCES IS CLAIMED IN PROFIT LOSS .WOULD BE UNDER RCM OR NOT.
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Quick Summary
This discussion clarifies the applicability of the Reverse Charge Mechanism (RCM) under GST for rented properties. It explores scenarios involving factories, shops, and residential homes, particularly when rent is paid to a registered person. The consensus is that RCM generally does not apply to commercial properties rented by a GST-registered individual. However, RCM is applicable to residential properties rented by a registered person since July 2022, even if the property is used for residential purposes and no business expenses are claimed.
Can u please clear more (wheather it is like that if one take a residential property for shop or factory rcm applicable ) if he tooks a commercial property on rent no rcm applicable
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