The Central Government has amended the GST provisions regarding renting of property, with particular emphasis on commercial property and reverse charge mechanism (RCM). Here’s a simplified overview Impact on Composition Taxpayers For Composition Taxpayers (Tenants): RCM becomes an extra cost, as Composition taxpayers cannot claim Input Tax Credit (ITC).Request: There have been suggestions for exemption … Continue reading Guide to RCM Applicability on Renting Commercial Property (w.e.f. 10th October 2024)