Now pay 18% GST on residential rental
Image Credit: losangelespropertymanagement
Not just kitchen budgets, new GST rules are all set to unsettle rentals, too. The Finance Ministry’s revenue department has introduced 18 per cent GST on residential rentals across the country, starting July 18. As per the notification, a residential dwelling rented to a person registered under GST would attract a tax of 18 per cent. Moreover, the lessee needs to pay the tax, keeping the lessor out of legal obligations.