GST on Rent Income
Hardik Patel (76 Points)
27 January 2020
Rent Income Receive in current account so GST applicable or not, and if applicable than what is rate of GST apply ?
5 Replies
Vamsi Krishna
(12 Points)
Replied 27 January 2020
Whether rental income is belongs to residential or commercial.
if commercial then 18% will be charged
if commercial then 18% will be charged
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 27 January 2020
If the rental income from Commercial Property then GST applicable @ 18%. weather if it's received through current account or Savings account or cash**...
CA Kiran Sutrave
(CA)
(428 Points)
Replied 27 January 2020
If the business of the assessee is renting of property and rental amount is exceeding the exemption limit, then GST is applicable @ 18%. Renting of residential property is exempted from GST
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 28 January 2020
Rent for Residential property is Exempted under Notification 12/2017 CT (R) , hence no GST Applicable on same . Yes if it is from Commercial property it's taxable & GST @ 18% is applicable
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