You need to file nil return in the same if no invoices are there for a certain period. If any amount is collected then you need to pay the same
Applicability of GST on Rent recieved if it is less than 20 Lakh but GST registration is done
I have taken GST registration in the month of March 2017 and given my property on Rent and total rent recieved in a year is 12 Lakh. The GST registration got cancelled of its own may be because of non filling of return in December 2017. We filed nil return till December 2017 in the month of May 2018 with late fee as applicable. Now is there any liability of GStT and if how much.
Asked 6 years ago in Taxation
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4 Answers
Rental income from residential property has been exempt from GST but any earning over Rs 20 lakh annually from renting or leasing for commercial purposes would attract the levy.
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 businesses, then it is taxable if you are getting more than Rs 20 lakh as rent and you will have to register yourself under GST.
Rental income from residential property has been exempt from GST but any earning over Rs 20 lakh annually from renting or leasing for commercial purposes would attract the levy. ... The taxpayer earning more than the exempted threshold will have to register with the GST Network and pay taxes.
GST return has to be filed by every registered person under GST irrespective of business turnover or profitability in a month. This may be reason for cancellation.
Hopefully late fees was informed by the department through official mode and than only you may have paid it and received receipt and NOC. Nothing due now.
Up to 20 lacs no GST levies.
Hopefully, tenant had deducted 10% TDS an provided you deposit receipt.
