Notional RENT GST Applicability

[K Balasubramanian]

I am the owner of commercial space. I am using this space for my CA FIRM and I do not charge any rent. Is GST payable under RCM from 10/10/2024 on notional rent?

AI Summary

Free Commercial Space Rental: GST Implications for Property Owners Providing Complimentary Business Premises Under Reverse Charge Mechanism A commercial property owner inquired about GST applicability for a commercial space provided free of cost to a CA firm. Responses suggest potential GST liability under reverse charge mechanism if the space is used for business purposes, with tax calculated based on notional market rent. Registration may be mandatory depending on the parties' GST status and transaction nature.