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GST on rental income for GST registered proprietor

Rules 675 views 7 replies

Prakhar

BUSINESSMAN

153 Points Joined January 2021

I am proprietor of a pharmaceutical wholesale agency registered under GST having annual turnover of about 70 lakhs.

I own 1 residential property (family having no GSTIN for a rent of 20k/month)and a commercial property (rented to Gst registered business for 70k/month)

1. Do i need to charge and collect GST on rent from my both residential and commercial tenants?

2. Many people I know having similar situation don't collect gst on rent from their both rented out residential and commercial properties .

What should i do ? Please help with solution.

Replies (7)

RAJA P M

"Do the Right Thing...!!!"

128116 Points Joined January 2015

GST not applicable to the residential property...

GST applicable to the Commercial property if its Your name as per same PAN of Your pharmaceutical wholesale agency....

Pranav Kothari

4 Points Joined July 2018

And what if commercial property is on contract basis or rental agreement basis ?

RAJA P M

"Do the Right Thing...!!!"

128116 Points Joined January 2015

@ Pranav,

Can't clear your query...

Are You asking as Landlord or Tenant...??

(Also pls post a separate query)

Prakhar

BUSINESSMAN

153 Points Joined January 2021

Sir, but yearly rental income from commercial property alone which is considered under supply of service is less than 20 lakhs .

Still do I have to charge and deposit GST on commercial rental income?

RAJA P M

"Do the Right Thing...!!!"

128116 Points Joined January 2015

Yes, If You have GST number then Your all incomes come into the GSTIN and IT'S GST chargeable...

The said ceiling limit not applicable to You. Bcoz, Already You have GST number.

If You don't have GST number then you can consider the ceiling limit.