GST New Rule: 18% GST will be levied on renting a house, know are you also in the purview of this new change?

According to the new guidelines implemented with respect to GST on July 18, GST has to be paid even on renting a house or house. This has to be done by those people who are registered under the GST law.

From July 18 onwards, all such tenants who are registered under the GST law will have to pay GST at the rate of 18 per cent on renting the house. Let us inform that the GST fixed after the meeting of the GST Council has come into effect from the 18th of July.

According to the new provisions, now if the GST registered businessmen take any house or house on rent to conduct business, then it will be mandatory for them to pay GST on rent at the rate of 18 percent. Earlier, GST was levied only on commercial property. If a house or property was taken on rent by a corporate house or individual for residential use, then GST is not applicable on it.

As per the new provisions of GST, GST will have to be paid on house rent only if the tenant is registered under the GST law and he is eligible to pay GST. At the same time, the landlord will not have to pay any kind of GST.

Apart from this, all such persons registered in GST who provide their services from rented property will have to pay 18 percent GST.

The point to be kept in mind here is that if a salaried or salaried person takes a residential house or house on rent, then he will not have to pay GST.

Let us inform that the announcement of changes in the GST law was taken after the 47th meeting of the GST Council held in the month of June. The new rules of GST applicable with respect to rent will come under the ambit of companies which take out residential property to use it as guest house or provide free accommodation facility to their employees.

Expansion

According to the new guidelines implemented with respect to GST on July 18, GST has to be paid even on renting a house or house. This has to be done by those people who are registered under the GST law.

From July 18 onwards, all such tenants who are registered under the GST law will have to pay GST at the rate of 18 per cent on renting the house. Let us inform that the GST fixed after the meeting of the GST Council has come into effect from the 18th of July.

According to the new provisions, now if the GST registered businessmen take any house or house on rent to conduct business, then it will be mandatory for them to pay GST on rent at the rate of 18 percent. Earlier, GST was levied only on commercial property. If a house or property was taken on rent by a corporate house or individual for residential use, then GST is not applicable on it.

As per the new provisions of GST, GST will have to be paid on house rent only if the tenant is registered under the GST law and he is eligible to pay GST. At the same time, the landlord will not have to pay any kind of GST.

Apart from this, all such persons registered in GST who provide their services from rented property will have to pay 18 percent GST.

The point to be kept in mind here is that if a salaried or salaried person takes a residential house or house on rent, then he will not have to pay GST.

Let us inform that the announcement of changes in the GST law was taken after the 47th meeting of the GST Council held in the month of June. The new rules of GST applicable with respect to rent will come under the ambit of companies which take out residential property to use it as guest house or provide free accommodation facility to their employees.