REGARDING GST ON COMMERICIAL PROPERTY

This query is : Resolved

ABHI KUMAR (Querist)
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17 November 2024 LANDLORD UNREGISTER
TENNAT: REGISTER
MONTHLY RENT PAID 20000 RS PER MONTH

ANNUAL RENT 240000

NOW RCM APPLICABLE ON TENNAT

RCM ON 20000 * 18%=

OR 20000 INCLUDING RCM

CONFUSED

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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17 November 2024 When rent paid is 20K RCM will be 20000 * 18%.

ABHI KUMAR

ABHI KUMAR (Querist)
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17 November 2024 240000 limit not deduct of tds
now we are liable to deduct tds as per income tax law sir

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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17 November 2024 No. As per IT act you are exempted to deduct TDS till the said limit. GST paid under RCM is not included in rent.
Moreover you can claim back the GST amount by ITC claim in the same month.

ABHI KUMAR

ABHI KUMAR (Querist)
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17 November 2024 WE ARE COMPOSTION PERSON
SO WE CANT CALIM ITC BUT SHOP RENT PAID UNDER RCM
AS ABOVE U SAID RCM AMOUNT NOT INCLUDED IN RENT
FOR ALL ALL TAXABLE PERSON SIR OR ONLY REGULAR TAXABLE PERSON BECAUSE COMPOSTION PERSON NOT LIABLE TO CLAIM ITC

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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17 November 2024 Yes, composition dealers cannot claim ITC, hence it is extra burden to them. But it is not rent and hence you are not required to deduct TDS over the rent paid to shop owner.

ABHI KUMAR

ABHI KUMAR (Querist)
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18 November 2024 THANKS SIR FOR VALUEBLE INFORMATION

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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18 November 2024 You are welcome.

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