Sir,
In partner ship firm, office rent paid to partner 6000/- per month in 17-18. We can't pay any tax under rcm.
Now Rcm applicable in this issue.
Pls. Clarify
Menu
Rcm. rent paid to partner
Replies (9)
RCM applicable from 1st July 17 to September-17.
The sec 9(4) of cgst,2017 has been suspended till mar 2019. So Rcm is not required to be paid.
And with regards to the Tax on rent..Your partner has to see whether his total turnover is exceeding the limit specified in the act. If yes,then he has to get registered and collect the tax on the rent from your firm and remit to the govt treasury...
Because in GST, firm and partner are different assessee. As Gst has got pan based registration.
Conclusion: the firm is not required to pay any tax for the time being.
And with regards to the Tax on rent..Your partner has to see whether his total turnover is exceeding the limit specified in the act. If yes,then he has to get registered and collect the tax on the rent from your firm and remit to the govt treasury...
Because in GST, firm and partner are different assessee. As Gst has got pan based registration.
Conclusion: the firm is not required to pay any tax for the time being.
The RCM on 9{4} was applicable from 1.7.2017 to 13/10/2017 & the Rent paid to partner is pertaing to this period , the RCM has to be deposit.
You can deposit now with interest .
You can deposit now with interest .
yes, Agreed with Pankaj Rawat.
sir what is the GST rate and interest calculation
5% & INTEREST IS 18%
Both are 18%... ...
GST rate for commercial rent is 18%.
Interest for delayed payment is 18%
sorry...thought GTA.
ITS 18% BOTH
Recent Topics :
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
Related Topics :
CAclubindia
