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Gst on lease rent received from oil companies

1306 views 1 replies

S. P. Dhammi

Accounts Professional

46 Points Joined March 2009

Hello,

Is GST applicable on Lease Rent received from Oil Companies (Petrol Pumps).

If applicable - The method of paying GST as the companies are suppose to pay lumpsum amount with GST. Is GST to treated as included in Lease Rent received.

The method of billing B2B or B2C.

Is input Credit will be available for oil companies (BPCL/ Indian Oil etc.) as the Petrol Diisel are out of GST.

Replies (1)

If the total value of services provided and goods supplied by the landlord during the financial year is less than Rs. 20 Lakhs – he is not required to obtain GST Registration No.and is exempted from collecting GST on Rent.
If you are registered dealer and oil company pays lease or tent then you've to collect gst also
But oil company can't avail ITC because their outward like petrol, deasel, crude oil not under gst.