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Sunday, June 25, 2017

Is GST applicable on Renting Of Residential Property?

For homeowners who earn rental income by letting out their residential properties, the question at the forefront of their minds is whether GST is applicable on such rental income

The simple answer to this seemingly perplexing problem of GST on rental income from residential property is this.. 

There is no GST on rental income from residential properties

Thus if you are a homeowner who has let out his residential property for use as a residence and earning rental income thereon, you need not worry about charging GST on such rental receipts. 

Services by way renting of residential properties for use as a resident is exempt by way of the following entry in the GST exemption list published by the GST council: 

"Services by way of renting of residential dwelling for use as residence [are exempt from the levy of GST]."

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