Currently RCM is not applicable on rent. RCM will be applicable on services received from use of light goods vehicle. Rate will be 5%. HSN is 996791.
Yes input credit will be claimed.
For compounding dealer also RCM is applicable.
RCM on rent of immovable property and rent of goods vehicle
I started a business of Bread and Bun manufacturing, wholesales and retail. I am a registered dealer under gst act. I pay the rent Rs.45.000 per month of godown and office room (Immovable property) to the owner (unregistered person) as well as I use the light goods vehicle as a delivery van. I pay the rent Rs.25000/ month to the vehicle owner ( other unregistered person). do i have to pay the tax according to the RCM in both rent (services receiving from unregistered person) If yes , kindly tell me the rate of tax and hsn code. can i claim the IPT and from which date is applicable give the explanation 1. Pvt Ltd company/partnership firm/proprietorship receive both services from unregistered person 2. a compounding dealer receive both services from unregistered dealer
Asked 3 years ago in GST
No RCM is required.
Didnt get your last 2 points.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you.
Hi
No In this situation RCM is not applicable.
Hello,
Currently, RCM is applicable to specified supplies only, and rent is not in the specified list of supplies.
I hope this answer satisfies your requirements.
Regards,
CA Hunny Badlani
Dear Sir,
Hope you are doing well !!
No rcm is applicable on the same.
Dear Sir,
For rent on godown where owner is not a registered party then you need to pay gst @ 18% under rcm and same should apply to payment of rent to unregisterd owner of the vehicle.
SAC CODE -997212 is for rental services of immovable property
SAC CODE- 996601 is for rental services of road vehicles.
Thanks & Regards
Shiv Kumar Agarwal
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