WebJul 16, 2024 · GST will be applicable if the residential property is rented out to a registered person under GST w.e.f. 18th July 2024. Liability to pay GST @ 18% under the reverse charge mechanism will arise on the recipient (tenant). The exemption has been withdrawn vide CGST (Rate) Notification no. 04/2024 dated 13.07.2024. A taxpayer earning more than the exempted threshold will have to register under GST and pay taxes. So, if you have given your property to a business, then it is taxable. If you are earning income from business, including rent and any other exempted income of more than Rs 20 lakh per annum, you will have to … See more During the pre-GST era, the landlord had to obtain a service tax registration if their total taxable services (including the rental income from all … See more According to the GST Act, renting out an immovable property would be treated as a supply of services. GST, however, will be applicable only to certain types of rent such as: 1. When a … See more The landlord or owner of the property can be registered in a state different from the state in which the property is situated. It is left to the option of the landlord. They must identify place of supply to decide if CGST and SGST is … See more
Goods Transport Agency under GST - ClearTax
WebDec 27, 2024 · Changes of GST rate over a period of time: GST rate in case of old and used car was same as applicable on new car up to 25/01/2024. Following are rates as per … WebOct 31, 2024 · 3. Total income of individual exceeds rs2 corer but does not exceed rs5 corer. Tax + surcharge of 25% (Total Income > 2 corer) Xxx. Less: Tax + Surcharge of … djo online store
GST on rent: Applicability, Tax Rate, Calculation and …
WebAs per the GST Act, any individual who carries out a business activity anywhere in India, needs to have GST individual registration. This means, if you are engaged in any … WebJul 25, 2024 · New Delhi and Puducherry, despite being Union Territories, have their individual legislatures and are considered “states” for GST process. A separate Act for the Union Territories was necessary as without it, GST on intra-state supply could not have been levied in these Union Territories. ... Liability under the GST law – As per ... WebGreetings, This question is to know What my GST liability are if any with the purchase of service (pure Labour) from an unregistered vendor. I had bought wood from a vendor in Kerala to make furniture by paying both state and central GST. I had taken the wood to a carpenter (unregistered vendor) to whom I will be paying the Labour charges for ... djo new album