TaxTMI 
TaxTMI 
Sir, I am a registered person having GSTIN and receiving rental income from BANK, Whether I am liable to pay GST on rental income or not. Please let me know whether I am liable to submit bill to the bank (under primary liability and charge GST) on other hand what will be status if BANK pay GST under RCM.
RENTAL INCOME
05 Sep 2017 
5 Replies 
1738 Views Asked by
GST liability on rental income depends on aggregate turnover; unregistered suppliers can have tax payable under reverse charge.
A registered person must charge GST on rental income if aggregate turnover exceeds the statutory threshold; renting of commercial property is a taxable supply and is not subject to supplier-side reverse charge by default. Registration is common across activities and aggregate turnover determines liability. If turnover is below the threshold and the supplier is unregistered, the recipient (e.g., a bank) may be required to pay GST under the reverse charge mechanism. Queries on input tax credit set off were raised but not resolved in these replies. (AI Summary)
A registered person must charge GST on rental income if aggregate turnover exceeds the statutory threshold; renting of commercial property is a taxable supply and is not subject to supplier-side reverse charge by default. Registration is common across activities and aggregate turnover determines liability. If turnover is below the threshold and the supplier is unregistered, the recipient (e.g., a bank) may be required to pay GST under the reverse charge mechanism. Queries on input tax credit set off were raised but not resolved in these replies. (AI Summary)