The Ministry of Finance, through Notification No. 09/2024-Central Tax (Rate), dated October 8, 2024, introduces an amendment to the Central Goods and Services Tax (CGST) Act, 2017. The amendment specifies that services related to renting any immovable property, other than a residential dwelling, provided by an unregistered person will now attract tax payable by the registered recipient of the service. This amendment is made to the previous Notification No. 13/2017-Central Tax (Rate) and will come into effect on October 10, 2024.
Also Read: Corrigendum to N/No. 09/2024-CTR – Any property to be read as any immovable property
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 09/2024- Central Tax (Rate) | Dated: 8th October, 2024
G.S.R. 623(E).— In exercise of the powers conferred by sub-section (3) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), number notification number 13/2017 -Central Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 692(E), dated the 28th June, 2017, namely:-
- In the said notification, in the Table, after serial number 5AA and the entries relating thereto, the following serial number and entries relating thereto in columns (2), (3) and (4) shall be inserted, namely: –
| (1) | (2) | (3) | (4) |
| “5AB | Service by way of renting of |
Any unregistered person | Any registered person.” |
2. This notification shall come into force with effect from the 10th day of October, 2024.
[F. No. 190354/149/2024-TO(TRU-II) – Part-I CBEC]
DILMIL SINGH SOACH, Under Secy.
Note: – The principal notification number 13/2017 -Central Tax (Rate), dated the 28th June, 2017 was published in the Gazette of India, Extraordinary, vide number G.S.R. 692 (E), dated the 28th June, 2017 and was last amended vide notification number 14/2023 -Central Tax (Rate), dated the 19th October, 2023 published in the Gazette of India vide number G.S.R. 765(E), dated the 19th October, 2023.
I am register person in Punjab availing renal commercial property in Punjab now landlord is unregister an resident of delhi, as register person have to pay GST under RCM should we pay IGST or CGST\SGST?
can anyone clarify plz ?
I am unregistered in GST
My rental income from commercial property will exceed 20 lacs per annum.
Do I still need to register under GST, as per new notification RCM is applied for services provided by unregistered person to registered person ( rent on commercial property )
thanks
Hi,
If you have more than 20 Lakhs service income in any of the previous years, then you are liable to get registered in GST. You have to collect 18% tax on your invoices and pay the same to Govt. Your GST Regd clients will get Input Credits. Dept can impose penalty on you for not registering in GST.
Till you take registration, your GST Regd clients are liable to pay GST under RCM. That is not going to affect you.
Note : Rental Income of 20 Lakhs above will reflect in your income tax return. Persons with business income should report their GST No. and Annual GST Turnover in ITR (makes it easy for Depts to verify)
Hope, this is clear.
Best Rgds,
Shibu
[email protected]