Скачать или смотреть GST on House Rent?

🔸 If social media posts are to be believed, one now has to pay a Goods and Service Tax even for renting a house.

AFWA’s investigation found that GST on house rent is not applicable for all. It is only meant for those tenants — business firms or individuals — who are registered under GST.

➡️It states that under the new system, 18 per cent GST will be charged on house rent under the reverse charge mechanism (RCM), where the tenant will be liable to pay it i.e Registered under GST.

However, the report clarified that salaried individuals need not pay any such tax. The new rule only applies if the person/company has completed GST registration.

🔸 Archit Gupta, founder and CEO at ClearTax, explained to the media: “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.”

Source: livemint, IndiaToday, PIB fact check
.
.
.
.
.
.
.
.
.
.
.
.
.
#tax #taxes #rent #houserent #gst #awareness #financialeducation