I hear that GST is applied for receiving rent. Now, the owner has 3 taxes to pay - GST, Income Tax and Property tax. Too much... government wanted to take 60-70% of the money of property owned by individual. Not right. Once can say, charge the tenant. But tenant is not willing to increase rent by 18%. Either government should not have GST for rent or they should not apply income tax on rent received. more
Rental income received from a residential house is exempted from GST. But if the building has been rented for commercial purpose and if the rent is more than Rs20 lakh annually then GST has to be paid more
Government is behaving like person taking out all the eggs at the same time. Kudos to all the advisors who give such advice probably because they get everything free without any tax. Governments do not have any planing for increasing the resources except the easier route to increase the taxes. In my opinion this is the root cause of all corruption or corrupt practices. I agree with the proposal but afraid that authority would either refuse or turn blind against the proposal. more
Dear Sabhapathy. The owner of the Building need not pay GST. Check the following. 1 Is your house given to an individual for residential purpose-If YES-Then NO GST 2. Is your house given to a GST Registered Dealer? if YES then GST to be paid by tenant on RCM 3. Is your commercial space given for rent to Unregistered dealer? If YES.check Whether Rent is Less than Rs.20.00 lacs annually-IF YES then NO GST 4. Is your commercial space given for rent to Unregistered dealer? If YES.check Whether Rent is Less than Rs.20.00 lacs annually-If NO then you need to charge GST and Tenant has to give you GST. 5. Is your commercial space given to registered Dealer-If YES ,NO GST for you but GST shall be payable by RCM by Tenant. So in any case you do not have any expenses.Only in case 4 the tenant may object.But NO other option,the tenant has to pay it more
Mr. Saba Pathy GST on rent is applicable for the rent received from commercial property or commercial use of residential property. GST is to be recovered from the tenant, hence there is no tax to be borne by the landlord. The GST paid by the tenant can be claimed as input tax credit by the tenant in his outward supply liabilities. - CA Ashok Malhotra - 9313888859 more
My cousin’s friend runs a local bakery in Goa. He accepts only CASH. No UPI/CC/Debit Card-- nothing! Logic: if he accepts anything in 'white', he will pay around...
Interesting how poor people and commoners pay GST on pretty much everything they buy from biscuits to namkeen, milk to grocery And rich buys iPhone, Luxury Cars, etc as Business Expenses...
Cut & polished diamonds are charged 1.5% GST. Flour & curd are charged 5% GST. Diamond walas can fund politics but aate dahi doodh walas can’t?? Plea...
The GST Council has recommended 5% GST on dairy items like pre- packed, pre-labeled curd, lassi and butter milk and increasing GST on dairy machinery and milking machines from 12% to 18%. This move...
Bicycle will attract a GST rate of 12%, but diamonds will attract only 0.25%. At a time when people aren't able to afford petrol & the poor are forced to commute on cycles, the govt charges 12%...
The Private tutors and coaching classes runners should be registered by the local authorities like Panchayats, municipalities and metros through simple forms with names, addresses of operators, the...
Rs6.14 lakh crore as input tax credit (ITC) remains blocked under Rule 86A by the tax authorities without any due process being followed. Attached is data by state. Can LocalCircles take up this is...
Dear All, I live in an affordable housing society under PMAY in Gurgaon for the past two years. Maintenance is supposed to be free for five years. Builder has increased CAM charges twic...
The leaders of the Govt, the babus of the Govt are very clueless LocalCircles and we have not done enough to wake up these people. Read below: 5% GST on COVID vaccine. 28% GST...
What's the most taxed product in India? It's not cigarettes, a can of aerated beverage or a bottle of whisky or beer. It's an AUTOMOBILE. It attracts the highest GST rate of 28% & a cess o...
By Sunita Varghese
/
Share
Sign Petition
Enter your email and mobile number and we will send you the instructions