New Delhi: There is a lot of confusion regarding the filling of GST on housing rent. However, the government has clarified on the issue related to the new rules of GST on payment of rent.
The new rule of GST on rent has come into effect from July 18. However, it also gave rise to some misinformation which said that tenants would have to pay 18% GST on house rent.
Refuting the claims, PIB tweeted that taking out a residential unit is taxable only when it is let out to a commercial unit. PIB has listed three important things related to GST on rent.
– Residential unit rent is taxable only when it is let out to a business unit
–No GST when it is let out to a private person for personal use
— No GST, even if the firm owns or partners rented accommodation for personal use
PIB advises from time to time that people do not click on any suspicious links being sent as viral messages.
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