SAVE GST ON RENTAL INCOME

A Person is levying GST on commercial rental income. Is there any way he can save net GST payment by booking ITC on eligible purchase or any other way to save GST?

Replies (2)
Quick Summary
This discussion explores methods for saving Goods and Services Tax (GST) on commercial rental income. While Section 17(5) generally blocks Input Tax Credit (ITC) on immovable property-related supplies, there's a pending Supreme Court case (M/s Safari Retreats Pvt Ltd) that could allow ITC if ruled in favour of the assessee. This case might offer future opportunities to reduce net GST payments.

Yes you can.
No .. as per Section 17(5) ITC on any inward supply in regard Immovable is block .
so you cannot adjust any ITC in this regard.


Note : There is Hon'ble Supreme Court The Judgments is pending in case of M/s Safari Retreats Pvt Ltd . If it is given in favour of Assessee then ITC will be available on inward supply in regard to Immovable property.

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