The tax will be charged according to the reverse charge mechanism (RCM), where the tenant will be liable to pay the GST.
The tax will not be applicable to salaried individuals who take homes on rent or lease. The new rule only applies if the person/company has completed the GST registration.
According to the rules, if a person/ company earns more than the set threshold limit per annum, they are liable to be registered under GST. For individual service providers, like business consultants, the threshold is Rs. 20 lakh per annum. For a business that makes money by selling products, the threshold is Rs.40 lakh a year. This limit is set at Rs 20 lakh in the north-eastern states.
Denne historien er fra August 2022-utgaven av Construction Philosophy.
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Denne historien er fra August 2022-utgaven av Construction Philosophy.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
NEW PLASMA BORING ROBOT
Plasma Boring Robot can dig tunnels 100 times faster and 98% cheaper
Span Floors launches 'Serene Summer'
Span Floors, a leading brand of wooden flooring in India, has introduced a new collection of summer flooring called the Serene Summer.
ALSTONE ALCOMB
ALSTONE India Launches Futuristic and Revolutionary
DIGITAL TECHNOLOGY AND ITS RELEVANCE IN DESIGN
With the complexity of designs that we witness worldwide today, a digital uprising is very critical.
Office leasing rose 3-fold across India in June 2022 quarter
A good 60% of the homebuyers in the country say that faced many challenges while acquiring property and as much as 40% of them also encountered issues after getting possession of their homes, according to a new survey.
Real Estate Crisis Goes Out of Control
Home sales in China have collapsed by nearly 60% compared to a year ago, and the current constant decline of sales (11 months) is pegged to be the worst in Chinese history.
Rate hike to further slow housing market
Fourth consecutive BoA is threatening rate increase by to drive up cost of borrowings and result in a sharp slump in the housing market.
Massive housing shortage across the U.S.
America has fallen 3.8 million homes short of meeting housing needs, which includes both rental housing and homes meant for ownership.
CASE Construction Equipment appoints Sunil Puri as MD, India & SAARC Operations
CASE Construction Equipment India Ltd, a brand of CNH Industrial has appointed Mr. Sunil Puri as Managing Director, India.
Anirban Gupta joins Colliers as MD, Kolkata
Leading diversified real estate professional services and investment management firm Colliers has appointed Anirban Gupta as the Managing Director of Kolkata to drive the organization's growth in East India.
