No GST on Renting of Residential Property for Residential Use - Lots of Issues || CA Bimal Jain
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- เผยแพร่เมื่อ 12 ส.ค. 2022
- No GST on Renting of Residential Property for Residential Use - Lots of Issues || CA Bimal Jain
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In this confusion a registered dealer should not take residential premises for his own residence in his name instead he should take in his family member name
Accordingly no Gst either forward or RCM as well no ITC
it is now more crystal clear. Thanks Sir..... for guiding us.
Sir, you have explained the subject in a very easy and nice manner. It helped me to get proper understanding of the issue. Thank you very much Sir 👍🙏
Post watching your videos, all doubts are cleared now. Thank you
Sir !! But in PIB fact check it is also mentioned that
“No GST even if proprietor or partner of firm rents residence for personal use”.
To my understanding from your video it seems that even this arrangement is taxable under RCM !! (please throw some light on this as well)
Thanks in advance
What about Regd. Proprietor, who has taken residential property and using for commercial purposes, is he supposed to pay RCM? If yes@what rate?
‘Persons’ include individuals as well as corporate entities. GST registration is needed when any person carries on business or profession and makes an annual turnover more than the threshold limit defined under the GST law.
If registered as a composition taxable person, they cannot claim the input tax credit on rental expenses but might still have to pay GST on rent on a reverse charge basis.
Superb. Gr8 knowledge sharing and clarity on subject. 👏👏👏🙏
Namaste sir. It seems you are suffering from cold. Why did't you take rest and make video after recovery. Anyway, cudos for your devotion towards subject. Thank you sir.
Thanks for your care...that's my passion, which i love most
🙏thank you very much for the valuable information on renting of residential units for gst registered persons
Thank you very much for your enlightenment & timely clarification, sir. 🙏🙏🙏🙏🙏🙏
Thankyou sir...for clarity. 🙏🙏
Very Well Explanation. Thanks.
Sir plz make video on GST applicability on cattle feed 🙏
It can be more simple Renting out of residential unit to registered person for commercial use. Then RCM Applicable.
Sir,how to identify a residential or commercial unit
Sir, work contract mein bahut confusion hai, pl. koi video bana kar samjaye rate on work contract before 1/1/22, after 1/1/22 & 18/7/22
If salaried employee has rented via company lease agreement and both landlord & tenant (employee) are not GST registered; in this case also GST applicable?
Also in this scenario if GST is deducted then is it possible to claim the credit ?
Gst on renting of residential property is over 20 lacs pa ?
If a residential dwelling is rented out to a registered person (individual) other than Firm Or company for residential purpose, then whether rcm is applicable or not in such a case? Also confirm that ITC is not available in this case.
Hello
Your presentation on captioned subject on You tube is great. Very informative.
Kindly tell said RCM is payable from July 22 or 01.01.23 ?.
Tks
18.07.2022
If a residential dwelling is rented out to a registered person (individual) other than Firm Or company for residential purpose, then whether rcm is applicable or not in such a case? Also confirm that ITC is not available in this case.
Please revert at the earliest on this point, sir.
Thank U soo much
Thank you so much sir for this clarification..
Pls clarify , that Mr. A regd under GST in Maharashtra, for his employees , Work from home , take Resi Flat in Guj for Resi + office work by Employee, and Mr. A is not regd in Gujarat ???
Then what to do ????????
Sir, Thanks a lot sir. Your videos are much useful. If a company having quarters for which rent collected from employee. Is company have to pay GST @ 18 under RCM?
Thanks sirji
Sir, two questions -
(1) if residential units taken on rent by URD but used for commercial purposes, is URD supposed to obtain mandatory GST regn. merely because RCM is applicable, and despite T/o is less than regn. limits?
(2) commercial property (shops) constructed under residential house in residential area but not Regd and classified as commercial property/ basements in residential property given for commercial use like storing space or office, shops in market /shopping complex given by URD LL to URD businessmen, are URD businessmen obliged to obtain GST regn despite the turnover is much lower than exemption limits of Rs. 20/40 lacs, because of applicability of RCM in commercial activities?
Sir, If a GST registered Sole proprietor take a residential property for his personal use will RCM applicable??
If yes then it will be loss him as he cannot claim ITC .
Nice clarity sir thanku
As per PIB fact check they have stated that it will not apply to Sole proprietor or Partner of a firm.
contrary to changes made in GST law.. simply, if anyone not registered, taking residential dwelling for residential use...is exempted as it was before.
If a registered person lives in residential dwelling and such residential dwelling is rented in the name of his wife(ie. rent agreement in the name of wife), whether GST applicable ?
Sir rent paid by composition delar to unregistered parson pl clarify rcm
Sir
How can we differentiate between Residencial Prop and commercial prop
Sir Good Evening.A Small Doubt Sir.That My Client is doing business in a commercial rental Place.The Land lord is a Unregistered Person in Gst.In this senario we have to pay rcm or not.Pls give us detail sir.Thank You
No
Sir If a registered Co. take residential premises for residence of its employees, GSt under rcm will be applicable.
In this case, whether such co. can claim ITC on such rent or not?
Yes credit available because such expenses are considered as business expenses
E commerce sellers ko rent pr gst pay krna hoga if rent pr le kr kam kr rha ho or income km ho ?
Sir, I am sole proprietor having registered under GST. I am paying rent for my residence from where I am operating my services even much before introduction of GST. In this light, may I request clarification as to applicability of GST in respect of property hired after the notification or applicable on the date of existing cases. Secondly, If GST is applicable, then why depriving ITC please.
18% under rcm you have to pay and you can take itc also
What is defination of Residential property
Thank you sir for explaining such a critical issue nicely.... further it is requested to please clarify, if i am staying in a rented accommodation provided by my company according to my entitlement i.e., 20000 then who will pay the GST as my entitlement is 20000 inclusive of all taxes i.e., house tax, municipal tax.......... sir please share your views as has been introduced now
Sir. I am running sole proprietor ship firm at sperate place. If i pay rent for resident in a personal capacity should rcm be applied
no..
@@cabimaljain sir, shouldn't be rcm applicable irrespective of the nature of use?
I person registered in Gujarat take a factory on rent in rajasthan for manufacturing of goods from a person registered in rajasthan ,itc available
Hello sir i am Baljinder singh CMA From chandigarh i need some clerification regading RCM on rent. My q is i am legal service provider. And anual recept. 35 lack and. I am not register with GST and i have letout my house to onter legal advicer his total receipt during the year is 25 lack both service expemt in gst I receiving rent 10 lack per year inthis case. Registratio. Required me in GST. What law will aplicable thanks
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