GST on House Rent: From January 1, 2023, no GST will be levied on residential units that are given on rent to the proprietor of a registered unit. However, this facility will be available only when that house is being used for individual capacity only.
GST on House Rent: The Central Board of Indirect Taxes and Customs (CBIC) has said that Goods and Services Tax (GST) will not have to be paid from January 1, 2023, in case a proprietor rents a house for residential purpose. CBIC has given information about this change by issuing a notification. He said that these changes have been made in accordance with the suggestions given in the GST Council meeting held on 17th December.
According to the notification, from January 1, 2023, no GST will be levied on that residential unit, which has been given on rent to the proprietor of a registered unit. However, this facility will be available only when that house is being used for individual capacity only.
Along with this, CBIC has said that if that property is being used for ownership, then its owner will have to pay GST at the rate of 18% on the basis of reverse charge mechanism.
Will be taxed on
According to this notification, Ethyl alcohol supplied to the refinery for adulteration with petrol will be taxed at the rate of 5% from January 1. Till now it was being taxed at the rate of 18%. Apart from this, the rate of tax on husk of pulses has also been reduced from 5% to zero. Apart from this, GST will be levied at the rate of 12% on beverages made from fruit pulp or fruit juice.
