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 ?
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Gst on rent income of registered company from unregisterd individual for residential use
Replies (4)
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."
Gst on rent used for the purpose of business then gst is applicable.
Rent of residential dwelling for residential use to unregistered person is exempt
As per notification 12/2017 CT (rate ) Under S.no.12 , it's exempted.
(as amended by Notification 4/22 CT rate)
(as amended by Notification 4/22 CT rate)
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