S K and Associates

GST on Rent

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style="object-position: 64% 100%;" width="300" /><div aria-level="3" class="AdPoic" data-animation-nesting="" data-sfc-cp="" role="heading" style="-webkit-text-stroke-width: 0px; background-color: white; color: #0a0a0a; font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 20px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 600; letter-spacing: normal; line-height: 28px; margin: 20px 0px 10px; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Key Scenarios for GST on Rent<button aria-label="View related links" class="rBl3me" data-amic="true" data-icl-uuid="7fb32f67-9c1a-4fbe-9651-3c25a22d9c62" data-ved="2ahUKEwjqotHBvYCRAxUdSGwGHVRvFqIQye0OegYIAQgAEAU" data-wiz-attrbind="disabled=PBdLhb_i_C5gNJc;class=PBdLhb_i_UpSNec;" style="background: none 0% 0% / auto 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initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></div><div class="Fv6NCb" data-sfc-cp="" data-ved="2ahUKEwjqotHBvYCRAxUdSGwGHVRvFqIQ-q4QegYIAQgAEAc" data-wiz-uids="PBdLhb_m" style="-webkit-text-stroke-width: 0px; background-color: white; box-sizing: border-box; color: #0a0a0a; font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 16px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; margin: 10px 0px 20px; orphans: 2; overflow: auto; scrollbar-width: none; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; width: auto; word-spacing: 0px;"><table class="NRefec" data-animation-nesting="" style="border-collapse: collapse; border: none; table-layout: auto; width: 632px;"><tbody><tr class="cZCYO" data-sfc-cp=""><th class="iry6k" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 14px; font-weight: bold; line-height: 22px; min-width: 4em; padding: 0px 10px 12px 0px; text-align: left; vertical-align: top;"><div class="q88TKd" style="align-content: center; display: flex; height: 44px;">Type of Property <button aria-label="View related links" class="rBl3me" data-amic="true" data-icl-uuid="2c95d110-a0c9-4559-9890-4a2653151037" data-ved="2ahUKEwjqotHBvYCRAxUdSGwGHVRvFqIQye0OegYIAQgAEAg" data-wiz-attrbind="disabled=PBdLhb_p_C5gNJc;class=PBdLhb_p_UpSNec;" style="background: none 0% 0% / auto repeat scroll padding-box border-box rgb(229, 237, 255); border-radius: 10px; border: none; cursor: pointer; height: 20px; margin: 0px 6px 0px 0px; outline: 0px; padding: 0px; position: relative; width: 28px;" tabindex="0"><svg fill="currentColor" height="12px" style="margin-top: 3px;" viewbox="0 0 24 24" width="12px" xmlns="http://www.w3.org/2000/svg"><path d="M3.9 12c0-1.71 1.39-3.1 3.1-3.1h4V7H7c-2.76 0-5 2.24-5 5s2.24 5 5 5h4v-1.9H7c-1.71 0-3.1-1.39-3.1-3.1zM8 13h8v-2H8v2zm9-6h-4v1.9h4c1.71 0 3.1 1.39 3.1 3.1s-1.39 3.1-3.1 3.1h-4V17h4c2.76 0 5-2.24 5-5s-2.24-5-5-5z"></path></svg></button></div></th><th class="iry6k" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 14px; font-weight: bold; line-height: 22px; min-width: 4em; padding: 0px 10px 12px; text-align: left; vertical-align: top;"><div class="q88TKd" style="align-content: center; display: flex; height: 22px;">Usage</div></th><th class="iry6k" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 14px; font-weight: bold; line-height: 22px; min-width: 4em; padding: 0px 10px 12px; text-align: left; vertical-align: top;"><div class="q88TKd" style="align-content: center; display: flex; height: 44px;">Tenant Status</div></th><th class="iry6k" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 14px; font-weight: bold; line-height: 22px; min-width: 4em; padding: 0px 10px 12px; text-align: left; vertical-align: top;"><div class="q88TKd" style="align-content: center; display: flex; height: 44px;">GST Applicable?</div></th><th class="iry6k" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 14px; font-weight: bold; line-height: 22px; min-width: 4em; padding: 0px 10px 12px; text-align: left; vertical-align: top;"><div class="q88TKd" style="align-content: center; display: flex; height: 22px;">Rate</div></th><th class="iry6k" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 14px; font-weight: bold; line-height: 22px; min-width: 4em; padding: 0px 0px 12px 10px; text-align: left; vertical-align: top;"><div class="q88TKd" style="align-content: center; display: flex; height: 44px;">Who Pays?</div></th></tr><tr class="cZCYO" data-sfc-cp=""><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px 12px 0px; vertical-align: top;">Residential</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Personal Use/Residence</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Unregistered Individual</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">No (Exempt)</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Nil</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 0px 12px 10px; vertical-align: top;">N/A</td></tr><tr class="cZCYO" data-sfc-cp=""><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px 12px 0px; vertical-align: top;">Residential</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Personal Use/Residence</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Registered Business</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Yes (under RCM)</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">18%</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 0px 12px 10px; vertical-align: top;">Tenant</td></tr><tr class="cZCYO" data-sfc-cp=""><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px 12px 0px; vertical-align: top;">Residential</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Commercial/Business Use</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Any (Registered or not)</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Yes</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">18%</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 0px 12px 10px; vertical-align: top;">Landlord (FCM)</td></tr><tr class="cZCYO" data-sfc-cp=""><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px 12px 0px; vertical-align: top;">Commercial</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Any Use</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Registered Business</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Yes</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">18%</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 0px 12px 10px; vertical-align: top;">Landlord (FCM) or Tenant (RCM)</td></tr><tr class="cZCYO" data-sfc-cp=""><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px 12px 0px; vertical-align: top;">Commercial</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Any Use</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">Unregistered Individual</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">No (if landlord is below threshold)</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 10px; vertical-align: top;">N/A</td><td class="cOeeGf" colspan="undefined" data-sfc-cp="" style="border-bottom: 1px solid rgb(163, 201, 255); color: #0a0a0a; font-family: "Google Sans", Arial, sans-serif; font-size: 14px; font-weight: 400; line-height: 22px; min-width: 4em; padding: 12px 0px 12px 10px; vertical-align: top;">N/A</td></tr></tbody></table></div><span id="iC-geaarxCZ2QseMP1N7ZkAo_3" style="-webkit-text-stroke-width: 0px; background-color: white; color: #0a0a0a; font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 16px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><span id="iC-geaarxCZ2QseMP1N7ZkAo_4" style="-webkit-text-stroke-width: 0px; background-color: white; color: #0a0a0a; font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 16px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><span id="iC-geaarxCZ2QseMP1N7ZkAo_5" style="-webkit-text-stroke-width: 0px; background-color: white; color: #0a0a0a; font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 16px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><span id="iC-geaarxCZ2QseMP1N7ZkAo_6" style="-webkit-text-stroke-width: 0px; background-color: white; color: #0a0a0a; font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 16px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><span id="iC-geaarxCZ2QseMP1N7ZkAo_7" style="-webkit-text-stroke-width: 0px; background-color: white; color: #0a0a0a; font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 16px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><span id="iC-geaarxCZ2QseMP1N7ZkAo_8" style="-webkit-text-stroke-width: 0px; background-color: white; color: #0a0a0a; font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 16px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><span id="iC-geaarxCZ2QseMP1N7ZkAo_9" style="-webkit-text-stroke-width: 0px; background-color: white; color: #0a0a0a; font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 16px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><div class="Fsg96" data-sfc-cp="" style="-webkit-text-stroke-width: 0px; background-color: white; color: #0a0a0a; font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 16px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"></div><div aria-level="3" class="AdPoic" data-animation-nesting="" data-sfc-cp="" role="heading" style="-webkit-text-stroke-width: 0px; background-color: white; color: #0a0a0a; font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 20px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 600; letter-spacing: normal; line-height: 28px; margin: 20px 0px 10px; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;">Important Details<button aria-label="View related links" class="rBl3me" data-amic="true" data-icl-uuid="8b913189-8c67-4e74-9661-3db8fa7a723b" data-ved="2ahUKEwjqotHBvYCRAxUdSGwGHVRvFqIQye0OegYIAQgAEAo" data-wiz-attrbind="disabled=PBdLhb_2a_C5gNJc;class=PBdLhb_2a_UpSNec;" style="background: none 0% 0% / auto repeat scroll padding-box border-box rgb(229, 237, 255); border-radius: 10px; border: none; cursor: pointer; height: 20px; margin: 0px 6px 0px 0px; outline: 0px; padding: 0px; position: relative; width: 28px;" tabindex="0"><svg fill="currentColor" height="12px" style="margin-top: 3px;" viewbox="0 0 24 24" width="12px" xmlns="http://www.w3.org/2000/svg"><path d="M3.9 12c0-1.71 1.39-3.1 3.1-3.1h4V7H7c-2.76 0-5 2.24-5 5s2.24 5 5 5h4v-1.9H7c-1.71 0-3.1-1.39-3.1-3.1zM8 13h8v-2H8v2zm9-6h-4v1.9h4c1.71 0 3.1 1.39 3.1 3.1s-1.39 3.1-3.1 3.1h-4V17h4c2.76 0 5-2.24 5-5s-2.24-5-5-5z"></path></svg></button></div><ul class="KsbFXc U6u95" style="-webkit-text-stroke-width: 0px; background-color: white; color: #0a0a0a; font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 16px; font-style: normal; font-variant-caps: normal; font-variant-ligatures: normal; font-weight: 400; letter-spacing: normal; line-height: 24px; margin: 10px 0px 20px; orphans: 2; padding-inline-start: 16px; padding: 0px; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><li data-hveid="CAEIABAM" style="list-style: disc; margin: 0px 0px 12px; padding-inline-start: 4px; padding: 0px;">Residential Property for Personal Use: Rent paid for a residential dwelling used solely for personal accommodation is fully exempt from GST. This applies even if the landlord is GST-registered.</li><li data-hveid="CAEIABAN" style="list-style: disc; margin: 0px 0px 12px; padding-inline-start: 4px; padding: 0px;">Commercial Property: Renting out commercial properties (shops, offices, warehouses, etc.) is considered a supply of service and is generally subject to an 18% GST.</li><li data-hveid="CAEIABAO" style="list-style: disc; margin: 0px 0px 12px; padding-inline-start: 4px; padding: 0px;">Reverse Charge Mechanism (RCM):<ul class="KsbFXc U6u95" style="font-family: "Google Sans", Roboto, Arial, sans-serif; font-size: 16px; line-height: 24px; margin: 10px 0px 20px; padding-inline-start: 16px; padding: 0px;"><li data-hveid="CAEIABAP" style="list-style: circle; margin: 0px 0px 16px; padding-inline-start: 0px; padding: 0px;">If a GST-registered business (tenant) rents any property (commercial or residential) from an unregistered landlord, the tenant is liable to pay the 18% GST directly to the government under the RCM.</li><li data-hveid="CAEIABAQ" style="list-style: circle; margin: 0px 0px 16px; padding-inline-start: 0px; padding: 0px;">The tenant can generally claim an Input Tax Credit (ITC) for this GST paid, provided the property is used for business purposes.</li></ul></li><li data-hveid="CAEIABAR" style="list-style: disc; margin: 0px 0px 12px; padding-inline-start: 4px; padding: 0px;">Threshold Limit: Landlords (who are not under RCM conditions) must register for GST and collect tax only if their total annual income from all taxable activities (including commercial rent) exceeds ₹20 lakh (₹10 lakh in special category states).</li><li data-hveid="CAEIABAS" style="list-style: disc; margin: 0px 0px 12px; padding-inline-start: 4px; padding: 0px;">TDS vs. GST: Tax Deducted at Source (TDS) on rent under the Income Tax Act is a separate matter from GST and applies to annual rents over ₹2.4 lakh (applicable from F.Y. 2024-25, previously ₹1.8 lakh). </li></ul>

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Company is basically representing the group company. Company is the highest organization unit used for consolidation and reporting. Comp...

NO GST LIABILITY ON DISCOUNT THROUGH COMMERCIAL CREDIT NOTE & DEBIT NOTE.

<h1 style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: medium; margin-top: 0in; padding: 0in;">NO GST LIABILITY ON DISCOUNT THROUGH COMMERCIAL CREDIT NOTE &
DEBIT NOTE<o:p></o:p></h1>

</div>

GST officials have started to conduct audit under section 65 of
CGST Act 2017 of various tax payers and facing the issue related to GST
applicability on discount income. We
will understand the provisions related to GST applicability on discount income
received at the time of supply of goods or services or both and discount
received after such supply through commercial debit / credit note.<o:p></o:p>

There
are some incidences on the basis of that company later on get discount form the
manufacturer. The incidences are trade discount of early payments i.e. making
payment before the due date, discount on price protection, discount for selling
bulk quantity i.e. selling quantity more than targets accepted by company,
target incentives, etc. Commercial Credit Note have been issued in favour of the
company with respect to the said discount given by such manufacturer and
against that company issues Commercial Debit Note in
favour of such manufacturer. No GST is
being charged on said Commercial debit <div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhgpOxCYpWDB6A8tuQUa65H4f_ekpJZemjdXZdAzt-K4oEkwpDSG_V_hA33eB7awuSGpPZBEfErYw6-Oai_tWZSmx6Dj3O-xksrVNGxeSJigKHfhHFXs30KH7_s9xZlzOjYJ5tN_7WZPCaFIiRgXLQh39QYdHXmOfXIyDBpddkS1tIT2Zf94l5plOWIlBF0/s800/Debit-Notes-and-Credit-Notes-Under-GST.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="450" data-original-width="800" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhgpOxCYpWDB6A8tuQUa65H4f_ekpJZemjdXZdAzt-K4oEkwpDSG_V_hA33eB7awuSGpPZBEfErYw6-Oai_tWZSmx6Dj3O-xksrVNGxeSJigKHfhHFXs30KH7_s9xZlzOjYJ5tN_7WZPCaFIiRgXLQh39QYdHXmOfXIyDBpddkS1tIT2Zf94l5plOWIlBF0/s320/Debit-Notes-and-Credit-Notes-Under-GST.jpg" width="320" /></a></div> <div class="separator" style="clear: both; text-align: center;"> </div>S K and Associates </div>

NO GST LIABILITY ON DISCOUNT THROUGH COMMERCIAL CREDIT NOTE & DEBIT NOTE.

NO GST LIABILITY ON DISCOUNT THROUGH COMMERCIAL CREDIT NOTE & DEBIT NOTE GST officials have started to conduct audit under secti...

Enhanced Threshold Limits For TDS

Enhanced Threshold Limits For TDS

<table border="0" cellpadding="0" class="MsoNormalTable" style="mso-cellspacing: 1.5pt; mso-yfti-tbllook: 1184;">
 <tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 Section
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 Before 1st April 2025
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 From 1st April 2025
 </td>
 </tr>
 <tr style="mso-yfti-irow: 1;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-193-of-income-tax-act" target="_blank">193</a> - Interest on Securities
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 NIL
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 10,000
 </td>
 </tr>
 <tr style="mso-yfti-irow: 2;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194a-tds-on-interest-other-than-interest-on-securities" target="_blank">194A</a> - Interest other
 than
 Interest on securities
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 (i) 50,000/- for senior citizens;
 (ii) 40,000/- in case of others when the 
 payer is the bank, cooperative society and post office
 (iii) 5,000/- in other cases
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 (i) 1,00,000/- for senior citizen
 (ii) 50,000/- in case of others when the payer is
 a bank, cooperative society and post office
 (iii) 10,000/- in other cases
 </td>
 </tr>
 <tr style="mso-yfti-irow: 3;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 194 – Dividend, for an individual shareholder
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 5,000
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 10,000
 </td>
 </tr>
 <tr style="mso-yfti-irow: 4;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194k" target="_blank">194K</a> - Income in respect
 of units of a mutual fund
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 5,000
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 10,000
 </td>
 </tr>
 <tr style="mso-yfti-irow: 5;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/taxes-on-lottery-puzzles-game-shows" target="_blank">194B</a> - Winnings from
 lottery, crossword puzzle Etc.
 <a href="https://cleartax.in/s/taxes-on-lottery-puzzles-game-shows" target="_blank">194BB</a> - Winnings from
 horse race
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 Aggregate of amounts exceeding 10,000/- during
 the financial year
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 10,000/- in respect of a single transaction
 </td>
 </tr>
 <tr style="mso-yfti-irow: 6;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194d-tds" target="_blank">194D</a> - Insurance
 commission
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 15,000
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 20,000
 </td>
 </tr>
 <tr style="mso-yfti-irow: 7;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194g-under-income-tax-act" target="_blank">194G</a> - Income by way of commission, prize etc.
 on lottery tickets
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 15,000
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 20,000
 </td>
 </tr>
 <tr style="mso-yfti-irow: 8;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194h-tds-on-commission-brokerage" target="_blank">194H</a> - Commission or
 brokerage
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 15,000
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 20,000
 </td>
 </tr>
 <tr style="mso-yfti-irow: 9;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194i-tds-on-rent" target="_blank">194-I</a> - Rent
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 2,40,000 (in a financial year)
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 50,000 per month
 </td>
 </tr>
 <tr style="mso-yfti-irow: 10;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194j" target="_blank">194J</a> - Fee for
 professional or technical services
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 30,000
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 50,000
 </td>
 </tr>
 <tr style="mso-yfti-irow: 11; mso-yfti-lastrow: yes;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 194LA - Income by way of enhanced compensation
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 2,50,000
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 5,00,000
 </td>
 </tr>
</tbody></table>

Prepared by SK and Associates

Enhanced Threshold Limits For TDS

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