GST on Renting of Residential Property - When Taxable/ Exempted/ RCM || CA Bimal Jain
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- เผยแพร่เมื่อ 27 ก.ค. 2022
- GST on Renting of Residential Property - When Taxable/ Exempted/ RCM || CA Bimal Jain
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Rate of GST would be 18% on Renting of Commercial Property (Forward Charge in the hands of Landlord) or Residential Property to registered Tenant (RCM in the hands of Tenant).
Exempted if Residential Property let out for use as residence to un-registered Tenant.
This answers.. ... an unregistered person to execute the lease agreement and get the reimbursement from employer. -- a loop hole left. I think Govt is unnecessary complicating matters with such provisions. 🤔
In case proprietor who taken property on rent for personal purposes ...RCM applicable ? PLS REPLY SIR
No
Thank you Sir, you have expalined it in very lucid manner 👍
Very well explained Sir
A registered oerson providing residential property to a firm for staff residence whther rcm applicable?
Thank you sir
Thanks for your valuable presentation over RCM on house property.
Most of us have one question , whether ITC can be claimed of this RCM? CBIC and most experts are silent on this .
I believe yes, in case used for purposes other than Guest House maintenance.
Available if used in the course or furtherance of business
@@cabimaljain thank you sir 🙏
In the end of video you say .....
If landlord ka aggregate income is above 20 lacs & still he doesn't need to take registration??? Because he has rented residential property to registered person?????
But in the middle of video you say that if income crosses threshold limit registration is to be taken.....
My understanding says that irrespective of whether one rents property to registered or unregistered person - whether residential or commercial ---- irrespective of all this if threshold limit crosses REGISTRATION HAS TO BE TAKEN.
PLEASE CLARIFY
Only gst maharastra,gujuraat mey lagana cahiye kyuki idhar devlop hey,magar bihar,kolkatta,odisa jesha state mey gst ,sst nehi lagana cahiye eha kuch company ya income Esha nehi ishilye
Please attach notification
Sir, I understand that if a registered person is living in a rented residential house paying Rs.1,00,000 per month than now his living cost will be Rs.1,18,000/- and he cannot claim ITC as he is using it for residence. (1) If I am unregistered and simply working with a computer and earning about 20 lakh a year, then GST on Rent by RCM does not arise...... but (2) if I register myself to avail more work than 18% GST on Rent will be paid by me and this 18% GST on Rent will be paid life long even if I earn only 1 lakh a year. (As per Rent Agreement, the house can be used for living only)..... So to avoid this additional burden of 18% on Living cost, I have to limit my earning to 20 lakh a year and must not get registration. काम का तो पता नहीं कितना मिलेगा पर घर खर्च ज़रूर बढ़ जाएगा रजिस्ट्रेशन कराने से..!!! Bimal Sir Ji, such decisions of govt push us to wrong practices, you well understand what I mean..!!! With regards - Rohtas
Sir please clarify, A landlord is renting residential unit to a registered person to be used only for residential purpose, is RCM applicable
Yes
Will the RCM be available as ITC in case the residential property is taken as Guest House for its business purpose by Regd person?
Sir, please share full video
Thanks Sir,
Is Guest House covered under residential dwelling which normally taken by company for his employees. Or it is considered as commercial.....
What about renting a service apartment by an unregistered person to an unregistered person for residential purpose ? Kindly reply.
No GST
Sir if the registered recipient i e tenant is registered under the GST in Composition scheme what will be the treatment of such because the tenant will not be able to claim the ITC of such RCM Paid ?
Sir purpose of letting out is operating commercial activities that who will pay GST
Hello sir
One question if person is lessee (registered in gst) and taken commercial property on Rent and lessor is unregistered in that case gst would be applicable on RCM basis?
Sir coliving spaces are charging 12% gst basis withdrawal of exemption notification of 1000/- rs tarrif per day in hotels. Is it the right treatment? Should it not be covered under exemption renting of residents dwelling for residence?
If non registrated owner letout the property to trust ( non profit organization) so who will pay the gst or gst is liable or not
Sir I am a online seller.
The amount on which tds deducted by e-comm operator u/s 194O is more than the amount on which TCS(gst) deposited. What amount should I consider as turnover for 2021-22 for income tax purposes?
🙏🙏🙏🙏🙏🙏🙏
I have learnt a lot from your videos please help me one more time.
If lanlord already registered in gst in his trading business and he letout his residencial property to registered person , in this scenario gst would applicable in rcm or forward charge?
RCM
@@cabimaljain thank you sir
Sir if a landlord is registered and tenant is also registered and landlord charges gst in Forward charge (for residential property), then what could be the consecuences?????
Not possible...as RCM prescribed
@@cabimaljain thank u sir🙏🙏
A short query - what if tenant is registered sole proprietor but is living in a rented residence. Will RCM apply, since it has no involvement with business?
Pls reply bimal Sir
Not applicable as its not for furtherance of business
Sir
Please explain also if residential property rented to registered person but the registered person used in commercial purpose
taxable
Should we pay by RCM....?
@@cabimaljain can you provide us insight that what is residential dwelling?
👌👌
Sarkar k dimag me chal kya raha hai sir. Tax payer pe bojh badhta ja raha hai dhere dhere. Ab kya sarkar chahti hai ki sadak pe rehne lage chote business person.
Thanks sir