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GST ON STUDENT HOSTEL
I'm into the business of running "Student Hostel" and my rental receipt per room per day from 4 students is Rs 800/-, where am I Liabel for G S T.
Replies (2)
Rental income from residential property has been exempt from GST but any earning over Rs 20 lakh annually from renting or leasing for commercial purposes would attract the levy. If college is providing hostel then it is exempt, if it is provided by private hostels then it is a commercial purpose so it is taxable @ 18% GST
I am directly collecting monthly rent from inmates and rent per day per room from 4 students is less than Rs 1000/ and my annual receipt is more than Rs20 lakes.
Like lodge rent per day per room is less than Rs1000/ GST is N.A. same rule whether applicable to us?
Like lodge rent per day per room is less than Rs1000/ GST is N.A. same rule whether applicable to us?
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