क्या अब Rent पर भी देना होगा GST? Exemption on Residential House | Analysis of NN 15/2022 (Rates)
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- Опубликовано: 5 янв 2023
- 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.
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मज़ा आ गया अभी evening में एक दूसरा चैनल का वीडियो देख कंफ्यूज था आपके वीडियो का wait कर रहा था confuse दूर हो गया
Your explanation method is very easy. After watching your video we are getting much knowledge
You explain so well sir, I have no words to speak.
Glad you like it.
I really sware, i have seen first time this Amendment Video , That was being felt us like ki Concpet body me utar gya wah
how you make it so simple, maza sa hi aa gya
Thank Your
too good explanation sir, lots og gratitude
Thank u Sir for clarification & well Explained..👍
Glad you like it.
Your explanation is awesome
Sir thank you so much I have proprietor ship firm now clear my all doubts thank u 🙏
VERY NICE EXPLANATION SIR. ALL CONCEPTS CLEAR. MUCH APRECIATED.
Keep watching
Great Bro, good video knowledged based.
Sir very nice explained your great..
Bahut badiya sir
Excellent illustration, Cristal clear explanation
Glad you like it
thank you sir. confused bahut hota hai RCM main.
To easy and too good explanation
Thanku sir your video 👍.
Very nice explanation sir
your big videos look good because you describe very simple way
Glad you like it 👍
Very well explained sir 👍
Glad you like it.
Thanks for details explanation sir
Glad you like it
Sir, Import and export topic per indetail video banaiye with Accounting procedure
Great work sir
Sir all concept clear
Sir. Agar commercial property is let out by unregistered person to registered person..then rcm will be applicable?
Knowledgeable Content 🙏
Agar , tenant unregistered ha, to kya use mandatory registration Lena pdega, or tax Dena pdega kya? Ya phir unregistered person used commercial property is exempted from tax?
Very informative sir.. 👏
Glad you like it
Very nice explanation sir ji
Glad you like it
आपके ऊपर माता सरस्वती की कृपा है।
Bas kripa bani rahe
Badiya sir ji 👍
Excellent
Thanks you so much Sir
Welcome
Sir Is Rcm Applicable on Shop Rent ( unregistered receiver ) ??
Really great analysis sir g👍🙏
Sir one question create on my mind
I don't know does this a authentic question or not
How government receipt gst by implement RCM mechanism, because taxpayer claim this amount as next month input
Best explanation sir
One point sir if any prop. Pays rent for shop and he debited to capital account not in Pl then whether it is exempt or reverse charge is appl7cable
Amazing sir
Sir
How much percentage tax to be collected and how much minimum monthly rent on which tax to be collected.
Good Information
Is...GST on rent for commercial property is taxable under RCM for proprietorship firm?
Thank you 💕
Sirji , if we have shown a registered client in B2C and the same tax has been paid in GSTR 3B, In next month we add the same bill in GSTR1 so that the client can get his input simultaneously we need to amend B2C of the same month, so that the tax liability match (((( but we cannot amend the B2C- in case the same issue occurs with the different client- as amendment can be done once only )))) so to be safe side we amend B2C at the year end or in Sept return of next year. but now the 88C has changed the picture, what will be the right procedure.
Sir your explanation is excellent
But sir I am registered person a used commarcial property but landlord is unregistered so I can pay tax under RCM
In case of a commercial property (nor residential) of an unregistered landlord, is rented by a registered entity….. according to some it does not come under RCM , as the new notification explanation is only for residential property. In case of commercial property always the landlord is liable for GST. I hope the 20 lac exemption limit still holds even for Commercial properties
Sir kiya jo rent le raha vo gov. Ha to kiya tabhi rcm paid karna h
What about ITC on GST paid under RCM by the registered entity?
Sir TDS pe bhi video lao...
Sir,rent ka RCM ka input le sakte hai?
Sir, can we revised tax audit report for fy 20-21?
Good Explain Sir
Ek Question Hai Sir Agar Koi Proprietor Business Ke Liye Property Lekar Uski Payment Seving A/C Se Kare To ?
Kar sakta hai, but business k liye current account recommended hota hai hamesa
Sir office k leay rent liya gst dina hoga. ?
If company paying rent to unregistered person for use of employees residence/accomodation purposes then company is needs to pay RCM ???
If the recipient of service is not registered under gst, then, how to deposit under rcm ?
As a residential tenant, should I pay GST to landlord? 11month rent agreement in white a4 page, landlord asking money by cash,when asked for rent receipt owner demanded 18% GST. Could you please suggest?
Can we claim itc in 3B in both conditions ?
What is the scenario where govt deptt. providing lease service to its employees for only residential purpose from unregistered person
Hello sir,
I have a case please help me to solve out ......
Individual given guest house to company who provide renting service...they further rented out the guest house to customer and collect renting charges .....and share 70% of it with individual...... please tell me the related provision or notification of GST?
What if both Landlord and Recipient are unregistered..?? Who will be liable in this Case?
आपके वीडियो का इंतजार रहता है sir
Aasha karta hu aapko pasand aai hogi video
बहुत ज्यादा पसंद आया sir
nice
Is ITC available on rent RCM?
Sir please tell about PG service??
what if property is commercial , owner is unregistered and tenant is registered... is gst applicable
Hello sir I have a query what if the landlord is registered under comp. Scheme and tenant is occupying the residential dwelling for business purposes but tenant is not registered under GST , kindly resolve my query?
Sir rent ki threshold limit kitni hoti he ?
Sir you explained so well, but in case landlord is unregistered and having comercial property and given on rent to register person ,in such case whether register person is required to pay RCM on Rent paid
Yes
But rcm not applicable on commercial property then how it is possible
Please confirm
If I paid rent with gst....then how can I claim for itc credit
As per updated RCM list "5AA applys only on residential property. Commercial property does not fall under RCM. Therefore no rcm applicable on rent paid on commercial property to Unregistered person
Yes that why i have not take about commercial property in RCM part 😃
1) Is ITC available for tax paid on residential dwelling under RCM.
2) It means from 18/07/22 to 31/12/22 proprietor is mandatorily have to pay gst under RCM irrespective of residential dwelling taken for residential use or business use.
1. Yes if premises used from business purpose
NN 15/2022 (Rates) provide explanation to provisions applicable from 18 July. Hence no liability if residential property use from residential purpose in personal capacity even after a registered proprietor. Even PIB also issue a clarification in this regard.
@@FinTaxPro sir I am asking for the taxability for the period from 18/07/22 to 31/12/22. Becoz in Notification on 18/07/22 there is word "Registered Person" no explanation is used for "residential" or "other than residential".
@@vickyagarwal5908 PIB already clarified this point on their official telegram channel
Watch this for more clarity क्या अब Rent पर भी देना होगा GST ? ft @VivekAwasthiTax
ruclips.net/video/cK_c2N60RRs/видео.html
Sir now a days many corporate companies are providing cars to its employees to reduce the tax burden.....can u plss explain this concept ....how does the lease works and how gst gonna benefit that ...how employees getting benefit
Let me check
Business=sweet shop
For transportation of goods or delivering they purchased truck and use it for that purpose.
Question .1 - can we take ITC on purchase of truck?
Question 2- can we take ITC even if we are not charging any freight?
Yes you can
Sir ye concept commercials buildings per bhi implement hota h ???
Commercial building par landlord generally registered hote h to waha jyada issue nahi h
Sir me rent pay kartha hoon
Par meri wife ecommerce ke liye GST registration Lena chhati hai
Is me rcm apply hoga
Rcm mtlb
Concept utna bhi difficult nahi hai , jitna aap khich rahe ho
Sir ye concept commercial building per bhi implement hota h
Waha jarurat nahi k because already landlord registered hoga h and NCM m pay karta h
Sir if landlord is unregistered and he is denying us for RCM so what should we to do ?
Why should landlord have any problem?
Under RCM recipient have to pay GST
Is ITC available for tax paid on residential dwelling under RCM.
Yes if property use for business purpose.
Telegram me join kar rhe hai lekin error dikha raha hai
Namaskar sir amit from mp
Namaskar
Sir Pvt Ltd company hai jinka kaam service Dena hai aur wo sabhi kaam all over India chalta hai to employees kaam karne ke liye bahar Jake kaam karte hai aur wo waha pe room rent PE lete hai to company ko RCM bharna padenga
Yes agar condition follow hoti h to company ko RCM m pay karna hoga
Eski toh bhut zaroorat thi sir
Partnership firm has no separate legal entity
Whether credit is available for GST Paid under reverse charge?
Yes
When the government takes a building on rent :
1. From a registered person
2. From an unregistered person.
What if landlord rented his commercial property but at the same time threshold limit does not exceed i.e., Rs. 20 Lakh. Will he still needs to get himself registered under GST and starts to raise tax invoice against the tenant ?
No
If landlord is unregistered & property is commercial then there will be no tax?
Please correct me if I'm wrong
Generally person renting commercial property need to take registration.
Sir, In case of registered landlord rented for Unregistered commercial business, Liability to be paid by Landlord Via RCM right??
Yea
@@FinTaxPro Thank you ❤️
Sir llp meaning?
Limited liability partnership.
What will happen if the company has taken a residential property on rent for its NRI director an rent is paid by the company. The landlord is unregistered. If the company pays gst on RCM then can ITC be claimed?
If paid by company then it is taxable under RCM.
But important question is why company is paying for director personal rent?
@@FinTaxPro
The director comes for business purpose for 2-3 months.
Also please clarify whether this RCM paid by company can be claimed as input or not ...since lease agreement specifically mentions that property is let out for residential use
@@richapanchaity4865 Yes you can claim ITC as well, if it is a business trip.
Regestard person ka kia matlab hai ? Can u tell me pls .
Sir iss chart ka pdf mil sakta hai kya
Check our telegram channel
Sir table 14 , 15 ka practicality working kaise hoga, kya table 3.1.1 mein data dalna hai ya nahin? Aur R1 mein pahle nill mein dikhate the e commerce sale to wahi sale kya table 14 mein bhi dalna hai ya nahin? Aur ha to uska Cgst, sgst mein bifurcate kaise karenge ya woh data auto drafted hoke aayega?
Jaldi video milegi ispe bhi
FOR PROPRETOR UNTIL AND UNLESS HE COMES UNDER
AUDIT AMBIT...HE IS NOT LIABLE TO PAY RENT UNDER RCM....IF HE IS PAYING RENT FOR COMMERCIAL PROPERTY
Sir ap great ho and app amare axer patel allrounded ho
Sir are great and so looks axer pa
Can you please make a practical video on this topic
Monthly GST return preparation and filings.
• GST - Reconciliation of GSTR 3B, GSTR 2A, GSTR 1, Cash and Credit ledger with Books
• Accounting for bank transactions and bank reconciliation
• Processing of payments to Vendors,
consultants and staff. • GST accounting - purchases, sales, input
credit, output tax and other components.
• Proficient in MS excel and automation generation, export\import excel & PDF, data consolidation.
Trial Balance Preparation.
⚫Should know adjustment.
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Sir apko dislike kare vo pagal ho sakta he.
Aap bus gst or notice hi dekhate ho 😂
Pagal hai simple tarike se padana chahiye itna hoch poch karke boring kar diya
Aapko koi chiz samjh nahi aai to pagal aap hue na sir 😅
Sir company rcm me tax pay karri hai toh uska itc kaise milega