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transaction with related party
is Gst chargeable if a company has a business transaction of renting of immovable property given by director to the company but the value is below the exemption limit of Gst registration ie 20 lakhs
Replies (1)
My understanding based on the facts:
Director has given property on rent to company and is earning rental income.
If aggregate of all supplies made by director exceed Rs.20 lacs, then he has to register
If not exceeding, then for rent paid by company, tax will have to be paid on reverse charge basis (RCM).
However, RCM is deferred till March 31, 2018.
Director has given property on rent to company and is earning rental income.
If aggregate of all supplies made by director exceed Rs.20 lacs, then he has to register
If not exceeding, then for rent paid by company, tax will have to be paid on reverse charge basis (RCM).
However, RCM is deferred till March 31, 2018.
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