WebJul 21, 2024 · "The recent decision by the GST Council to impose an 18% GST on residential properties rented to individuals who are registered under GST (mandatory registration for anyone who makes a supply of service over Rs 20 lakh and supply of goods over Rs 40 lakh) will have a significant impact on the rental real estate market in India. WebAug 17, 2024 · a - If landlord is registered under GST, there will be 18 per cent GST under forward charge basis. b - If landlord is not registered under GST, there is no GST on commercial property. c - Whether tenant is registered under GST – Does not matter and no GST is applicable. 2) Residential Property:
GST ON RENT (COMMERCIAL AND RESIDENTIAL PROPERTY)
WebAug 3, 2024 · Any Registered person take property on Rent for Residential purpose from any person have to pay GST on RCM basis as per Central GST Rate notification … WebJul 31, 2024 · It means that you do not need to register or charge under GST unless your rental income exceeds 20 lakhs annually. The GST rate on let-out of commercial … automation kya hota hai
Adv Harsha Matta posted on LinkedIn
WebApr 5, 2024 · The GST rate applicable on commercial properties is 18%. Therefore, landlords need to charge 18% GST on the rent amount for commercial properties. … WebOct 16, 2024 · GST on residential rent under RCM. Up to 17th July, 2024, there was no GST on rent of residential property but after this date government has levied the GST on rent of residential property under … WebJan 23, 2024 · For all commercial spaces that are on rent, GST will be applicable at 18% on the taxable value and rent would be treated as a taxable supply of service. If a … gb21250