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Dec 20, 2022 · Understand GST on residential and commercial property rent. From July 2017 to date, learn about exemptions, rates, and recent amendments. FAQs on GST for landlords and tenants answered.
May 28, 2024 · Understanding GST implications on renting properties including thresholds, exemptions and tax treatment on residential vs commercial rentals. Explaining place of supply for charging CGST, SGST or IGST based on landlord and tenant registration.
Jan 16, 2024 · Under the GST Act, leasing or renting of commercial property, including shops, offices, or warehouses, falls under the category of supply of services and attracts GST @18%. However, small taxpayers who have an annual turnover of less than Rs.20 lakhs are exempted from GST on rental income.
Nov 1, 2023 · The GST rate for commercial rental property is 18% of the rent paid. Whether the landlord is registered for GST or not, if the tenant is registered, then they have to pay the GST when the place is rented for business use. Different rates are applied to commercial property rent.
Jul 1, 2024 · The new GST rules for rent on residential and commercial properties aim to streamline taxation and enhance transparency in property transactions. Landlords and tenants must understand their GST obligations, eligibility for input tax credits, and compliance requirements to avoid penalties and ensure legal adherence.
Feb 19, 2020 · Vide notification 12/2017 rent received from renting of residential dwelling unit for residential purpose is exempt from GST. In other words, if you rent commercial property for commercial use, then GST is applicable.
GST on the rent of commercial property will be charged at 18% on the taxable value of all business spaces that are rented, and rent will be recognised as a taxable supply of service. GST on rent on commercial property limit (GST on rent limit)– ₹20 Lakhs. What are the ITC provisions when GST is charged on rent?
