RCM rent for composition dealers

RCM 1594 views 2 replies
User Avatar

student
140 Points Joined June 2013

In the recent GST council meeting have they addressed the RCM on rent for composition dealers ? Have they exempted Rent RCM on non residential property ?

0 Reply Share Follow
On 22 December 2024 at 16:22 Report
Replies (2)
User Avatar

Master in Accounts & high court Advocate
8996 Points Joined December 2011

The recent GST Council meeting has indeed addressed the Reverse Charge Mechanism (RCM) on rent for composition dealers.

 As per the recommendations of the 55th GST Council meeting, taxpayers registered under the composition levy scheme have been excluded from the entry at Sr. No. 5AB introduced vide Notification No. 09/2024-CTR dated 08.10.2024.¹

This means that composition dealers are now exempt from paying GST under RCM on renting of commercial or immovable property (other than residential dwelling) from an unregistered person.

However, this exemption is effective from the date of issuance of the proposed notification, and the period from October 10, 2024, till the date of issuance of the notification will be regularized on an "as is where is" basis.

 In summary, composition dealers have been exempted from RCM on rent for non-residential property, providing relief to small taxpayers.

1 Reply
On 22 December 2024 at 16:41
User Avatar

Tax consultant
552 Points Joined November 2020

No rcm for commercial property to composition taxable person as per the recent GST council meeting.

Wait for the notification.

1 Reply
On 23 December 2024 at 09:24


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading