क्या अब Rent पर भी देना होगा GST? Exemption on Residential House | Analysis of NN 15/2022 (Rates) скачать в хорошем качестве

क्या अब Rent पर भी देना होगा GST? Exemption on Residential House | Analysis of NN 15/2022 (Rates)

A tenant, who is registered under the GST, is required to pay Goods and Services Tax at 18 per cent for renting a property used for business purpose, according to the new GST rules effective from July 18. The 18 per cent tax on rent paid is only applicable to tenants registered under the GST, meaning a GST-registered person who carries out business or profession will incur 18 per cent GST on such rent paid to the owner Earlier, only commercial properties like offices or retail spaces given on rent or lease attracted GST. There was no GST on rent or lease of residential properties by corporate houses or individuals. As per the new rules, a GST-registered tenant will be liable to pay the tax under the reverse charge mechanism (RCM). The tenant can claim the GST paid under Input Tax Credit as a deduction. The tax will only apply when the tenant is registered under GST and liable to file GST returns. The owner of the property is not liable to pay the GST. If any common salaried person has taken a residential house or flat on rent or lease, they do not have to pay GST. However, a GST-registered person who carries out business or profession must incur 18 per cent GST on such rent paid to the owner A GST-registered person, who offers services from a rented residential property, will be liable to pay the tax at 18 per cent. Under the GST law, registered persons include individuals and corporate entities. The GST registration is mandatory when a person carrying out business or profession reaches an annual turnover of more than the threshold limit. In this session we will discuss about GST on rent. For latest update join our telegram channel - https://t.me/fintaxpro For CA Expert Constancy https://fintaxpro.in/consult-us/ 👨🏻‍🎓Enhance and upgrade your practical skills with our practical courses- 👉🏻ITR, GST & TDS (Combo Course) - https://fintaxpro.in/Combo 👉🏻Account Finalization - https://fintaxpro.in/Accounting 👉🏻Trademark e Filing Course - https://fintaxpro.in/TM 👉🏻Taxation for Share Market - https://fintaxpro.in/share 👉🏻GST Course - https://fintaxpro.in/GST 👉🏻ITR & TDS Course - https://fintaxpro.in/ITR 👉🏻Excel Course - https://fintaxpro.in/Excel 👉🏻Taxation for Online Sellers - https://fintaxpro.in/online 📞For course query please call @ 8368741773 Services we offer 👉GST Registration, Returns & Compliance 👉ITR Return, Compliance & Notices 👉Company/ LLP Incorporation 👉ROC Compliance 👉Buy Class 3 DSC - https://imjo.in/tFcdAZ 👉Trademark Registration - https://imjo.in/yZaxJ2 👉Trademark Reply 👉Auditing & Compliance 👉IEC Code 👉Payroll Compliance 👉ISO Certification 👉Project Reporting 👉Financial Modeling 📞For services please call @ 9718097735 FinTaxPro Website - https://fintaxpro.in/ FinTaxPro Mobile App - http://bit.ly/3WJ63tX FinTaxPro Social Handles- https://linktr.ee/fintaxpro For collaboration & sponsorship write us at info@fintaxpro.in Cheers Folks Thanks for Watching :) Disclaimer- Although all provisions, notifications, updates, and live demos are analyzed in-depth by our team before presenting to the public. We hereby provide our point of view only and tax matters are always subject to frequent changes hence advisory is only for the benefit of the general public. Hence neither Fintaxpro Advisory LLP nor its designated partner is liable for any consequence that arises on the basis of YouTube videos. Data Privacy Policy - In course of preparing video we have to show Name, Mobile, email and other personal details. It is hereby clarified that all due permission have been taken before publishing video on any social media platform. The objective behind the video is to educate the public at large and shall not be treated as violation of any YouTube community guidelines. For more concerns related to data privacy write us at info@fintaxpro.in ©️Fintaxpro Advisory LLP