RCM Applicability on renting of Commercial Property
sasank (Chartered Accountant) (89 Points)
13 August 2022We, service receiver is a sec 8 company have the GST registration and use the property as our office.
The Land gives us monthly rental Bill without GST. We pay the bill after deducting the TDS.
Does this transaction attracts GST on reverse charge?
As per new GST rules notified on July 18,2022. RCM is applicable on renting of residential property only. I am in bit ambiguity same is applicable for commercial property.