BASIC EXEMPTION LIMIT

[JOSHIL JAIN]

One of my client is registered as service recipient of Goods transport Agency. He is also providing other taxable services such as rent of immovable property. Whether he is eligible for basic exemption limit as service provider on renting of immovable property. Please advise.

[YAGAY and SUN]

Threshold limit may be availed for Renting of immovable property but not for GTA Services as there is no exemption available to service recipient under Reverse Charge Mechanism.

[rajkumar shukla]

I agree with Mr Khatri

AI Summary

Basic exemption limit applies to rent of immovable property but not to services subject to reverse charge like GTA.
The basic exemption limit may be availed for renting of immovable property supplied by the person, but the basic exemption cannot be applied to Goods Transport Agency services received under the reverse charge mechanism because no exemption is available to the service recipient for inward supplies charged under reverse charge.