Rent under rcm

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386 Points Posted on 09 March 2024
what is the percentage of rcm on rent for renting a house for business purposes
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On 09 March 2024 at 23:08 Report
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Quick Summary
This discussion clarifies that rent paid for business purposes is subject to an 18% Goods and Services Tax (GST) under the Reverse Charge Mechanism (RCM). There is no specified threshold limit for this RCM applicability, meaning businesses must account for GST on rent regardless of the amount paid. This applies even if the business is using the property for commercial activities.

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"Do the Right Thing...!!!"
128157 Points Posted on 09 March 2024
Eighteen Percentage
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On 09 March 2024 at 23:28
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Chartered Accountant
86505 Points Posted on 10 March 2024
Agreed with Raja Sir

It's 18%
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On 10 March 2024 at 08:32
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Profession
28261 Points Posted on 10 March 2024
Rent paid for the purpose of business is subject to gst after a specified threshold limit
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On 10 March 2024 at 13:57
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Finance Manager
81 Points Posted on 10 March 2024
RTP can pay tax under RCM ID business use.
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On 10 March 2024 at 21:18
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Profession
28261 Points Posted on 11 March 2024
Wrong perception
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On 11 March 2024 at 07:44
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Finance Manager
81 Points Posted on 11 March 2024
What is the specified threshold limit
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On 11 March 2024 at 12:26
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Chartered Accountant
86505 Points Posted on 21 March 2024
No threshold
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On 21 March 2024 at 00:43

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