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Gst on rent received

289 views 5 replies

Karthikram ChitavaramSreenatha

8 Points Joined August 2017

I'M A PARTNER IN THREE FIRMS WITH A TURNOVER OF 7.9CR, I'M RECEIVING COMMERCIAL RENT FROM 3 TENANTS OF AROUND 7200,13000,12000 PER MONTH, SHOULD I APPLY FOR A GST IN MY NAME AND GIVE THEM A PRINTED RENT BILL WITH GST? IF SO THEN WHAT IS THE RATE OF GST TO BE COLLECTED? CAN I SUBTRACT THE GST VALUE IN THE RENT AND RECEIVE THE SAME WITHOUT GST? YOUR VALUABLE VIEWS PLEASE

Replies (5)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

210774 Points Joined July 2016

If you do not have any other supply in Individual capacity other than the rent of 3 commercial units........the aggregate rent is around 4 lakhs or so per annum........ which is within basic exemption limit........ so no need to get registered under GST.

Ahmed Ali

388 Points Joined February 2016

Agreed with response of Mr. Dhirajlal.

But if the immovable properties are not located in your state/UT, then the supply shall be treated as an interstate supply. As per Sec 24 of CGST Act, compulsory registration is to be taken by you if you are making any interstate supply.