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Rent payment

SUMIT BADYAL (709 Points)

19 August 2020

hi, it's important to charge gst on building rent bill and what is Tds deduction limit.

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Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 19 August 2020

If you are a GST Registered person, any Giving bill for rent of Commercial property (i.e Shop, factory ect..) than you are required to charge GST in your bill
Rent of residential property is exempt.

TDS is required to be deducted if rent amount is more than 2,40,000 per annum @ 10%

Note :If rent amount paid or credited during the period from 14th May, 2020 to 31st March, 2021 than TDS shall be deducted at the reduced rates i.e 7.5%.

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SUMIT BADYAL (709 Points)
Replied 19 August 2020

If we use building for storage of exempt good then it's attract gst

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 19 August 2020

Yes,GST is applicable on that also, whether we store Exempted goods or taxable goods.

Rent of residential property(Flat ect.) is only exempt.

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