our company registered under gst had developed residential chsl.mumbai. company has rented its unsold flats for residential use to gst unregistered individual in the month of March 21 & may 22 by registering leave & licence aggreement ending in dec 22 & March 25 respectively
What are GST implementation on above rent income of company wef july 22 ?
CBIC has clarified that “renting of residential unit taxable only when it is rented to business entity️." It further clarified that “no GST when it is rented to private person for personal use; no GST even if proprietor or partner of firm rents residence for personal use."
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