RCM ON RENT OF PROPERTY BY COMPOSITION DEALER
This query is : Resolved
18 November 2024
oNE OF MY FRIEND WHO IS A COMPOSITION DEALER HAS GIVEN ONE OF HIS COMMERCIAL PROPERTY TO rEGISTERED PERSON. wHAT WILL THE POSITION OF gst WHETHER IN fcm OR rcm AND AT WHICH RATE.
18 November 2024
The composition dealer cannot charge GST on the rent invoiced to tenants because composition dealers are not allowed to collect GST from their customers. The dealer have to opt out of the composition scheme and switch to the standard GST regime & charge GST under FCM.
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