Rent on agricultural land

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4 Points Posted on 08 October 2023
we give o n g c for our agricultural land for drilling oil. onge give to monthly rs 30000 rent. in this recived rent gst will be applicable .thanks
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On 08 October 2023 at 23:47 Report
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Quick Summary
This discussion clarifies whether Goods and Services Tax (GST) applies to rent received from ONGC for agricultural land used for oil drilling. While monthly rent of ₹30,000 is received, the key factor for GST applicability is the total annual rent. If the combined annual rent does not exceed ₹20,00,000, GST may not be applicable.

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Profession
28271 Points Posted on 09 October 2023
Yes this is applicable
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On 09 October 2023 at 10:57
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CA ipcc
449 Points Posted on 13 October 2023
No it's is not since combined for the year the rent recieved does not exceed 2000000
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On 13 October 2023 at 11:22

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