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rental of land or building for office/ factory use..
what will be the impact of gst on rental of land or building if owner is registered and not registered. can these taxes are eligible for credit.
Replies (3)
GST @ 18%
IF OWNERS IS REGISTERED HE LL BE ISSUE INVOICE AND COLLECT GST AND PAY TO GOVT.
IF OWNERS IS URD THEN HE CAN'T GIVE INVICE TO TENANTS...
THIS RENTAL INCOME BASED TAX IS LIABILITY ITS PAYABLE. HAVE ANY OTHER INPUT TAX WILL BE ADJUSTABLE
If owner is unregistered and recipient is registered then he pay tax under RCM
If both are unregistered then no RCM liability arises
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