According to the GST Law, renting out an immovable property would be treated as a supply of services.
Renting of immovable property is divided in two parts:
Renting of Commercial Property
Service by way of renting of commercial property is leviable to GST under Forward Charge Mechanism from the inception of GST Law. If the owner of the immovable property (hereinafter referred to as the “supplier”) is registered under GST, he would charge GST in Tax Invoice, otherwise, GST is not leviable. Thus, the question of Who is the service recipient? is irrelevant.
Renting of Residential Property
Renting of residential property was exempted vide Notification No. 12/2017 – Central Tax Dated 28th June, 2017, where the property is used for residence purpose, whether given to registered person or unregistered person.
However, the above mentioned exemption has been withdrawn w.e.f. 18th July, 2022 vide Notification No. 04/2022 – Central Tax Dated 13th July, 2022, with respect to renting of residential property for residence purpose to a registered person.
This means that w.e.f 18th July, 2022, if a residential property is given to registered person for residence purpose, GST is leviable.
Also, in this case, GST is leviable on Reverse Charge basis i.e., Recipient of service is required to pay the applicable Tax (18%) to the Government.
Central Tax Notification No. 05/2022 Dated 13th July, 2022, mandate the Reverse Charge applicability on service of renting of residential property to a registered person.
Important Points:
–Refer W.P.(C) 10986/2022 & CM APPL.32131/2022.
Conclusion:
Renting of residential property will only be exempt from forward charge and reverse charge in the following cases:
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