Applicable Tax on Residential Property Situated in Different State
This query is : Resolved
22 October 2024
Dear Experts,
Kindly share your views on the below described issue with notification/circular/case study:
Company having all his business and registration in West Bengal owns a residential property at Odisha.
The mentioned property rented out to a registered company of Odisha as residential property used for residential purpose only.
What will be the applicability of GST in the above mentioned scenario? Will it be IGST (RCM) or CGST-SGST(RCM) in the hands of Owner as well as Tenant?
Thanking you in advance for your suggestion.
Kindly share your views on the below described issue with notification/circular/case study:
Company having all his business and registration in West Bengal owns a residential property at Odisha.
The mentioned property rented out to a registered company of Odisha as residential property used for residential purpose only.
What will be the applicability of GST in the above mentioned scenario? Will it be IGST (RCM) or CGST-SGST(RCM) in the hands of Owner as well as Tenant?
Thanking you in advance for your suggestion.
22 October 2024
Supply being at Odisha, you are require to register in Odisha and charge CGST+SGST, unless it is used for residential purpose only.
23 October 2024
The property is let out as residential property and used for residential purpose only. There is no other business in Odisha. Total revenue earned form Odisha is below Rs.20 lacs and no tax liability is arising in Odisha.
23 October 2024
As there is no tax liability in Odisha, you may not be required to register as on the day.
24 October 2024
But my question is still unanswered.
What will be the applicability of GST in the above mentioned scenario? What tax will be recorded in Tax Invoice?
Will it be IGST (RCM) or CGST-SGST(RCM) in the hands of Owner as well as Tenant?
What will be the applicability of GST in the above mentioned scenario? What tax will be recorded in Tax Invoice?
Will it be IGST (RCM) or CGST-SGST(RCM) in the hands of Owner as well as Tenant?
24 October 2024
Whenever taxable supply, CGST+SGST of Odisha state will be applicable. RCM will apply only when supplier is URD, otherwise supplier has to charge under FCM.
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