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GST ON PROPERTY RENT
Moving to New Zealand? Here’s how the tax system worksNew Zealand's tax system, managed by the Inland Revenue Department, requires income and Goods and Services Tax (GST) payments. Migrants nee...- No GST on leasing out residential premises as hostel for students: Supreme CourtA bench of justices JB Pardiwala and KV Viswanathan upheld the verdict of the Karnataka High Court which said that leasing out of residenti...
- GST on cooking gas: Rent constrain hoteliers to pass on benefits to consumersThe Karnataka State Hoteliers' Association expressed its inability to pass on GST benefits to consumers, citing unchanged taxes on cooking ...
- Finance Ministry files review petition in SC's Safari Retreats case rulingThe Finance Ministry wants to review a Supreme Court ruling letting real estate companies claim input tax credits on construction costs for...
- Services by directors to companies not taxable under GST RCM: CBICCompanies will not have to deduct GST under reverse charge mechanism (RCM) on services such as renting of immovable property provided by di...
- In relief to tenants, AAR allows tax credit on GST paid on upfront lease premiumTill now, tax authorities have been mostly disallowing input tax credit on upfront lease premium, arguing that this transaction is similar ...
- Congress calls GST on rent 'kaala jaadu'; Govt says doesn't apply if property rented for personal useIn a tweet, Delhi Congress vice president Mudit Agarwal said 18 per cent GST on rent even for residential property is an example of 'acche ...
- When is 18% GST applicable for renting of residential properties?To keep things simple, the liability to deposit GST has fallen on the tenant. The landlord is neither required to obtain any registration u...
- Only GST-registered tenants face rent taxThe new norms stipulate that from July 18, when an 'unregistered person' (for example, a salaried individual or small businessperson) gives...
- Apartment to get costlier to rent for corporate executives“Furthermore, going by experience in such cases, the input tax credit (ITC) of GST on this rent paid by corporates may be disputed by the G...
- Income from property rented out: GST AAR makes an important rulingIn its ruling, the AAR held that GST exemption is provided by the nature of the property and its usage and not by the status of the recipie...
- No GST on electricity charges recovered from tenantsGST has a concept of “pure agent”, under which if you incur an expense while providing a service to your customer, then on satisfaction of ...
- GST jolt for real estate developers: Paying tax on rent they never gotAs per the GST framework, tax has to be paid at the time of raising invoice and not when the actual payment is made.
- Karnataka AAR ruling: Subletting, leasing under GST ambitIn a case involving about 42 single rooms having been sublet by a tenant to students for periods ranging between three months to 11 months,...
- GST applicable on sublet accommodation, rules Karnataka AARIn a case involving about 42 single rooms having been sublet by a tenant to students for periods ranging between three months to 11 months,...
- Now, transfer of commercial tenancy rights put under GSTThe landlord may be owner of the property but the possession of the same lies with the tenant. The tenant pays periodic rent to the landlor...
- Real estate queries: No GST on houses rented for residential purposesSiddhart Goel, senior director, research services, Cushman & Wakefield answers queries from our readers on real estate.
- Commercial rental income beyond Rs 20 lakh to attract GST, says Hasmukh AdhiaAdhia also said that if the house property is rent out for shop or office purpose, no Goods and Service Tax (GST) will be levied up to Rs 2...
- No GST on residential property rental income but housing cost surge may push up rents: ExpertsThe rental income from residential properties used for residential purposes would continue to be exempted even under the GST regime.
- Govt seeks powers to levy GST on all rental incomeAs per the current system, service tax is levied on rental income from commercial property, but not levied on residential property.
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