Varun Basu (3 Points)
23 August 2018Hi,
I am a consultant that has recently applied for a GSTIN since my consulting revenue for the year is exceeding Rs 20L. I recieve rental income from a residential property and wanted to know if the income from this property will also be taxed under GST? If yes, at what rate will GST need to be applied and under what SAC/HSN code should it be filed?
You answers will be most appreciated.
Regards
Varun
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(167394 Points)
Replied 23 August 2018
"to know if the income from this property will also be taxed under GST?"
No; it is not taxable, provided rented for residential usage.....
Varun Basu
(3 Points)
Replied 23 August 2018
Hi Dhirajlal,
Thank you for the quick response - Just to reconfirm, that the income from residential property rented for residential usage is not taxable under GST even if my total service income is greater than 20 lacs for the year?
Varun
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(167394 Points)
Replied 23 August 2018
Yes...... refer ..
| Heading 9963 or Heading 9972 |
Services by way of renting of residential dwelling for use as residence. | Nil | Nil | Nil | Nil |
From ::: https://cbec-gst.gov.in/gst-goods-services-rates.htm l
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 23 August 2018
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
