Sir, i have given a shop for rent. For Rs 20, 000/month. I am paying All taxes for building. He is asking receipt for rent paid by him. He is paying it through bank account transfer. He is saying that he want receipt for submitting GST Return. Is it true, bank certificate is not enough for his audit. I am a salary man. My actual income fro salary in 20-2021 is 672879, taxable income from salary after deduction is 438260(without adding income from rent)
Why is rent receipt required for GST return.
There is a column where you need to mention expense on which GST not paid but it's not mandatory.
Other than that I don't think there is any requirement in GST as such.
You are not showing rent income in your income tax return.
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Thank you
Hi
Let your tenant know that you are not registered under GST and hence there would be no ITC benefit that he can avail. He must be asking for GST invoice.
Hi,
Yes, rent receipt or Invoice for rent must be shared with him as for filing the GST returns or claiming the tax credit, bank statement o certificate is not enough.
Thanks
Damini
If he is giving by bank transfer then there is no harm in providing receipt.
May be his GST auditor needs to verify whether he has paid GST on it.
Your rent is below 20 lac limit in a Financial Year so you are not required to charge GST on rent. Rent receipts will not help him in submitting GST return.
Hello,
Since you are not registered under GST, you cannot provide the tenant a GST Invoice.
However, a receipt can be provided for the rent received. This would justify the tenant's expenses.
I hope this answer satisfies your requirements.
Regards,
CA Hunny Badlani
- No issue in providing receipt to him. Also tell him that you are not registered under GST.
Dear Sir,
Hope you are doing well !!
You can give the rent receipts for the same.
Also, you inform him that you are not registered under GST.
