MR. A RECEIVED RENT FROM B( PRIVATE BANK) RS.1.20.000/- PM. MR.A APPLICABLE FOR GST? RATE OF GST. AND CODE?
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Gst on rent
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Rent which is for commercial purpose shall be taxable at the rate of 18% but there is no thershold limit for rent if your turnover is above 20 lakhs then you are required to register under GST otherwise you are not required to registered.
under reverse charge gst on rent need to be paid by tenant if he register. is it right?
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