COMMERCIAL RENT ================= We are builders and for the last 10 years there is no sale of shops/flats. We are holding GST Registration Number also. We have given a commercial shop on rent as upon which we had recovered 18% GST from the tenant. GST recovery remained for the period from Aug 17 to July 18. But someone advised us not to recover GST from the tenants because of rental income below Rs 20 lacs and thereafter from Aug 18 we stopped recovery GST from the tenant. What to do in such case? Whatever we had recovered from the tenant we instead of paying GST refunded to our tenant.
RESIDENTIAL RENT =============== Whether Residential Rent is exempted from GST liability? Whether we don’t require charging of GST from the residential tenant?
27 November 2019
Once you had taken registration , you were supposed to charged GST & file return , even if income is below taxable limit. taxpayers are required to file NIL return even in case of no transaction, in case the total amount of central tax payable in return is NIL, i.e. in case of NIL return, the late fee payable would be INR 20 per day (INR 10 CGST and INR 10 SGST).
Yes , Residential Rent liability is exempted from GST liability
CAclubindia
