Gst rate for renting of immovable property(commercial shop)

Page no : 4

Richard (Articled assitant) (24 Points)
Replied 14 August 2017

GST Rate and SAC Code for Renting of shops in College campus

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Tarak Shah (Chartered Accoutants) (105 Points)
Replied 16 August 2017

Mr. Kakar, As one property is at Delhi and your registration is of Delhi, you have to charged CGST and SGST, while for Gurgaon property IGST.

Tarak Shah (Chartered Accoutants) (105 Points)
Replied 16 August 2017

GST is applicable is the supply value exceeeds Rs. 20 lacs p.a., in your case total rental income exceeds threshold limit, but share of each co-owner is less than threhold limit, hence no GST on individual share, subject to individual billing. But recepient if registered has to deduct tax on RCM basis.

Vicky (cheif accountant) (24 Points)
Replied 16 August 2017

Sir,

I would Like know about the Whether under RCM Tenant who is registered dealer is suppose to pay GST under RCM ?

Faraz (Student) (236 Points)
Replied 16 August 2017

Originally posted by : Dhirajlal Rambhia
	"If any person takes commercial premises on rent @ 1.00 lac per month from a person who is not registered in GST as it is below threshold limit, will the tenant have to pay GST on reverse charge basis as it is availing service from Unregistered person" @ CA PRAMOD BANSAL: If it is your query, the answer is YES, as per section 9(4) of GST bill. AND It applies to all the supplies from unregistered persons to registered person. Irony of the provision is that: In a reverse charge mechanism, government does not earn anything as tax payer gets credit of tax paid. Thus, in effect, it is a revenue neutral exercise.

Not necessarily revenue neutral. Composition dealer cant take tax paid under RCM as input.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177896 Points)
Replied 17 August 2017

@ Faraz: Yes dear, you are correct........ But here all nornal tax payers are also suffering.........

Srinivasa rao A (MD) (27 Points)
Replied 16 September 2017

GST is drafterd by a lawyer and not by financial expert. 20 L limit is bogus. Aggregate clause is to trap all citizens. A salaried person getting 20 L as salary and 2 L as rental income has to file GST RETURNS. It is better to dispose commercial rental properties than to file 37 GST returns.

Murali (software engineer) (79 Points)
Replied 09 October 2017

I am service provider renting one of my building for office purposes, collecting GST from tenant and paying GST as per the norms. do I have to file GSTR2 and I dont have any purchases or input credit associated. Do I still have to file GSTR2 with 0 purchases amount?