Rental income
This query is : Resolved
22 February 2021
We have doing business under proprietorship and registered in GST.
1. We have received rental income of Residential property around 10 Lakh PA
2. And we have planning to give another commercial property for rent and further amount of 12 Lakhs per annum.
Kindly clarify We have liable to collect GST for Commercial property only or both Residential also.
What is the rental GST Rate and threshold limit.
Thanks in advance.
1. We have received rental income of Residential property around 10 Lakh PA
2. And we have planning to give another commercial property for rent and further amount of 12 Lakhs per annum.
Kindly clarify We have liable to collect GST for Commercial property only or both Residential also.
What is the rental GST Rate and threshold limit.
Thanks in advance.
22 February 2021
You are liable to collect GST only for commercial property.
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22 February 2021
Sir Thanks your reply
Can we off set of this ITC for some other business GST Payables.
Can we off set of this ITC for some other business GST Payables.
22 February 2021
How would you get ITC since this is your outward supply
23 February 2021
Thanks Altamush Zafar sir..
We have doing rent a cab business under proprietor concern.. and we have collected rental income along with GST rate of 18%, So if I collected GST from Commercial Rent.. Can we offset this GST as ITC with our business GST Payables.
Thanks in advance.
We have doing rent a cab business under proprietor concern.. and we have collected rental income along with GST rate of 18%, So if I collected GST from Commercial Rent.. Can we offset this GST as ITC with our business GST Payables.
Thanks in advance.
23 February 2021
In both the cases you are collecting GST and then paying. In both cases you are the supplier
Input Tax Credit is available where you pay GST to the supplier or service provider
Input Tax Credit is available where you pay GST to the supplier or service provider
23 February 2021
Thanks Altamush Zafar sir..
In my business We have paid rent to the Building owner.. They are charging along with GST..
And vehicle Repaire & Maintanance we have received the bills with GST amount..
So.. My query is can we adjust these GST Payable as ITC.. ( In rent a cab we are collecting 12% GST from my service receipient)
Advance thanks for your reply.
In my business We have paid rent to the Building owner.. They are charging along with GST..
And vehicle Repaire & Maintanance we have received the bills with GST amount..
So.. My query is can we adjust these GST Payable as ITC.. ( In rent a cab we are collecting 12% GST from my service receipient)
Advance thanks for your reply.
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