How the following shall be dealt under GST:
I have provide rental service to a bank. The bank has issued the payment for the month of June 2017 of the whole rental amount excluding GST.
Pakshal
(ca student)
(110 Points)
Replied 24 August 2017
anshu
(s)
(38 Points)
Replied 24 August 2017
No GST is charged on the adavnced received by the party.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174095 Points)
Replied 24 August 2017
If it is June rent......... GST was not applicable.........
If it is for July month......... Bank will pay GST over the rent under RCM.........
You remain URD, cannot charge GST.......
anshu
(s)
(38 Points)
Replied 24 August 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174095 Points)
Replied 24 August 2017
Actually, you are supposed to charge GST as liability to collect tax is over service provider. You have not provided you GSTIN to bank and hence bank has assumed you to be unregistered. so, clear the doubt from next month and you collect GST over and above rent amount, and pay to treasury.
anshu
(s)
(38 Points)
Replied 24 August 2017
Arun Kumar Singh
(GST Advocate)
(15220 Points)
Replied 24 August 2017
GST will be applicable for the month of July supply of rent services.
natarajan
(SM - Audit & Taxation)
(156 Points)
Replied 25 August 2017
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