30 March 2017
hi.
what will be the impact of Service tax on Rent of commercial property after GST comes to effect..
as of now the service tax is collected on rent only if it exceeds the limit, is there similar limit after implementation of GST or the service tax should be collected irrespective of total rental receipts.
Please guide..
Renting of property falls under provision of services. If the aggregate turnover of the service provider exceeds Rs 19 lacs ( for other than North eastern states) and 9 lacs (for North eastern states ) in a year he is liable to register under GST . This registration has to be applied within 30 days from the date of becoming liable for registration . On grant of registration it will be effective from the date of his liability from registraion and GST has to be collected from that date onwards .
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