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Regarding rent

AMIT (B.Com) (155 Points)

27 September 2017

I have gstin number but I received rent below 2000000.00, shall I liable under gst act

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31 Replies

Murali Gorlu (34 Points)
Replied 27 September 2017

As per limit you are not liable under GST.
Being you are an unregistered person, you should not GST from tenants..
You have the Option to register on voluntry basis

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160327 Points)
Replied 27 September 2017

As you are registered under GST....... you have to collect GST on rent over non-residential properties...... and pay the same to treasury............ Also you have to file corresponding returns.......

3 Like

anonymous (student) (750 Points)
Replied 27 September 2017

RCM IS APPLICABLE

basanth (CA,CS (FINAL)) (102 Points)
Replied 27 September 2017

Yes - You are already registered under the GST and having GSTIN, You need to pay the tax @ 18%.
Once you have registered with the GST, then all the rules are applicable to you.
Hope you are under the regular scheme and not under compostion because rent is the service and services are not fall under composition scheme (except for the hotel industry)

Hope this will clear

2 Like

Vinay Garg (Student cum businessman cum professional) (859 Points)
Replied 27 September 2017

Exemption limit of 20 lakh is for registration purpose only. As you are already registered, you need to raise Tax Invoice under GST charging at 18%.

Further, TDS Provisions may get attracted under Income Tax Act, 1961 if the rent is more than 180000 in PY.

anonymous (student) (750 Points)
Replied 27 September 2017

RCM IS APPLICABLE

Vinay Garg (Student cum businessman cum professional) (859 Points)
Replied 27 September 2017

RCM is not applicable in this case.

AMIT (B.Com) (155 Points)
Replied 27 September 2017

Sir I am received rent of July and August, now what is procedure to raised invoice of July and August month, my tenent paid gst on rent under rcm

Vinay Garg (Student cum businessman cum professional) (859 Points)
Replied 27 September 2017

https://www.caclubindia.com/forum/files/1915949_20170711172007_format.xlsx

Vinay Garg (Student cum businessman cum professional) (859 Points)
Replied 27 September 2017

RCM is not applicable as you are registered.

AMIT (B.Com) (155 Points)
Replied 27 September 2017

Sir

Amit here sir my question is, I have registered under GSTIN, My GSTIN number is not given to my tenent, hence they paid GST on rent under RCM, for the month of July and August 2017 i received rent for July 2017 for Rs 150000.00, my tenent paid me 135000.00 after TDS of Rs 15000.00 Deducted from 150000.00, now shall i raised invoice for earlier months in this month what is procedure....