is it gst applicable ...if i letting out property for residential purpose..
5 Replies
KAAMIL AHAMADH
(ACCOUNTING/TAX CONSULTANCY AND ITR/GSTR FILING)
(253 Points)
Replied 10 February 2019
Hi !
GST is not applicable on rent for a residential property for residential purpose. GST is applicable on renting of commercial properties.
Please note, GST has merely replaced the old tax system which included various kinds of taxes and duties.
As was the case earlier, there was no service tax on renting of residential properties for residential purposes. However, service tax was levied on renting of commercial properties.
Regards
KAAMIL AHAMADH
GST is not applicable on rent for a residential property for residential purpose. GST is applicable on renting of commercial properties.
Please note, GST has merely replaced the old tax system which included various kinds of taxes and duties.
As was the case earlier, there was no service tax on renting of residential properties for residential purposes. However, service tax was levied on renting of commercial properties.
Regards
KAAMIL AHAMADH
Jeevan Vivekji
(212 Points)
Replied 10 February 2019
thank u sir... paying guest ( P.G ). comes under residential purpose or not..
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 10 February 2019
Yes its exempted, Services by way of renting of residential
dwelling for use as residence.
as per Notification 12/2017 CT (r)
dwelling for use as residence.
as per Notification 12/2017 CT (r)
pritesh
(CA Final student)
(7101 Points)
Replied 10 February 2019
It is applicable for commercial properties but not on residential property
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