GST (RCM) in case of rent paid to Unregistered Persons on other than Residential property

 Ref:- CBIC Notification No. 09/2024-Central Tax (Rate), Dt. 08-10-2024.


Please refer the Notifications cited. You are hereby informed as follows.

Vide reference cited, ‘service by way of renting of any property other than residential dwelling’ by an un-registered person is notified as liable for payment of tax by the recipient on reverse charge basis. The Notification has come into force on 10th October 2024. Therefore, you are requested to ensure that the tax on reverse charge basis is accounted for and paid on the rental / lease charges of the commercial property taken on rent / lease from un-registered person..

Comments

Post a Comment

Popular posts from this blog

Advisory regarding confirmation of “Tax Liability Breakup, As Applicable” in GSTR-3B-reg Mar 16th, 2026

Advisory regarding confirmation of “Tax Liability Breakup, As Applicable” in GSTR-3B-reg Mar 16th, 2026 1. In terms of the provisions of Section 50 of the Central Goods and Services Tax (CGST) Act, 2017, interest is payable where the tax liability pertaining to a previous tax period is discharged in a subsequent tax period. Accordingly, the tab “Tax Liability Breakup, As Applicable” in Form GSTR-3B is meant to capture the tax liability relating to supplies of previous tax periods which are being reported and discharged in the current tax period. 2. From the February 2026 tax period onwards, the GST Portal auto-populates the “Tax Liability Breakup, As Applicable” in GSTR-3B on the basis of the document dates of supplies reported in GSTR-1 / GSTR-1A / IFF, where such supplies pertain to any previous tax period but the corresponding tax liability is being discharged in the current period’s GSTR-3B. 3. Accordingly, from the February 2026 tax period, after offsetting the liability in GSTR-3...
Read more

REPRESENTATION BEFORE PRINCIPAL SECRETARY HARYANA GOVT.-- EXCISE AND TAXATION DEPARTMENT FOR ENHANCEMENT OF USABLITY AND EFFICIENCY OF GST PORTAL

  SONEPAT TAX BAR ASSOCIATION To Sh. Devinder Singh Kalyan Principal Secretary to Govt. of Haryana Excise and Taxation Department   Subject: Suggestions for Improvement of the GST Portal Respected Sir We as professionals in the field of GST and taxation, have closely observed the functioning of the GST portal and would like to offer a few suggestions to enhance its usability and efficiency. These improvements aim to address practical issues faced by taxpayers and professionals while ensuring a seamless experience on the portal.   Field/Window for Uploading Documents During Registration: Currently, there is no specific field or window to upload supporting documents when an assessee applies for registration. Adding such a feature will ensure that all necessary documents are submitted with the application, thereby reducing the chances of queries or rejections.   Preview and Download Option for Applications Before Submission : A preview button...
Read more

Major #GST Update from 1 Nov 2024

Image
Major #GST Update from 1 Nov 2024 Starting from 1st November 2024, a new compliance rule 47A is coming into effect for #SelfInvoicing in cases of Reverse Charge Mechanism (RCM). Under the Finance Act 2024 (Part 2) and Notification 20/2024, all GST-registered recipients liable under RCM must issue self-invoices within 30 days of supply receipt. Previously, there was no clear time limit, leading to confusion. This change aims to bring consistency and ensure timely tax compliance. Why This Matters: Failing to comply could lead to penalties, so it’s crucial to update your processes! Key Points: - New 30-day time limit for RCM self-invoices. -Effective from 1st November 2024. - Non-compliance may result in penalties. FORMAT OF SELF INVOICE:
Read more