EASYOFFICE

GST ON RENTING OF COMMERCIAL SPACE

This query is : Resolved 
Profile Image

Profile Image

(Querist)
15 May 2023 Dear Sir/Madam,

Ours is a Proprietorship concern and we are registered GTA. Our proprietor has rented out commercial space and raises the Rental Invoice under the GST number of our business i.e., Transportation of Commercial vehicles. Upto last financial year we were in RCM method and paid the GST charged to Tenants on monthly rent through cash. But for current financial year we have opted FCM. Now my query is whether can we set off the liability of GST payable which is charged to Tenants against the ITC of purchases made for GTA Business as rental income from renting out of commercial space does not form part of GTA business.

Thank you,
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
16 May 2023 No ITC can be claimed on rental income as it does not form part of GTA business.
Profile Image

Shalini RN

Profile Image

Shalini RN (Querist)
16 May 2023 Thank you very much Sir
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
16 May 2023 You are welcome..
....

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


EasyOFFICE CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links