Rcm on rent from october

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47 Points Joined August 2017
how to affect rcm on rent from 10-10-2024 ,if i file nil return ?
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On 17 October 2024 at 12:22 Report
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Master in Accounts & high court Advocate
9505 Points Joined December 2011

if you file a nil return:

1. Declare the rent income in the "liable to pay" section of the return.

2. Mention the RCM liability in the "tax payable" section.

3. Show the tax paid (if any) in the "tax paid" section. Even if you file a nil return, you must report the RCM liability and pay the tax due.

Failure to report or pay RCM liability may result in penalties and interest.

Additionally: - Ensure you have an active GST registration. - Obtain an invoice from the landlord, including GST at the applicable rate (currently 18%). -

Pay the GST on rent to the government. - File Form GSTR-3B (summary return) and GSTR-1 (detailed return) to report the RCM liability. 

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On 17 October 2024 at 14:00


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