Renting of properties by the owners are common these days. Renting can be either for residential purpose or commercial purpose. As the rent comes under services GST is applicable on Renting of properties. Know more on the latest changes.
This document covers
|S.No||Landlord under GST||Tenant under GST||Applicability of GST|
|3||Unregistered||Registered||GST @ 18%. Payable by Tenant under reverse charge mechanism|
|4||Registered||Registered||GST @ 18%. Payable by Tenant under reverse charge mechanism|
CBIC has issued an explanation on renting of residential property w.e.f 01st Jan 2023. If the proprietor of sole Proprietorship registered under GST takes a residential property on rent for residential purpose in his personal capacity, GST is not applicable w.e.f 01st Jan 2023
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