Breaking News
GST
1 min read
Traders' Body Asks for GST Relief on Rental Payments
Full Story
GST at 18% applies to commercial property rents and residential property rents if leased to GST-registered businesses.
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What Happened
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Traders' body requests GST relief on rental payments.
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Currently, commercial property rentals are subject to 18% GST.
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Residential rentals for personal use are GST-exempt.
Why It Matters
GST on rent increases costs for businesses, impacting profitability.
Action Required
Landlords must register under GST if annual rental income exceeds ₹20 lakh (₹10 lakh in some states).
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