GST on rent: Govt clarifies on the new rule on residential properties

The government has clarified on the new GST or goods and services tax rules on rent, which came into effect from 18th July. In a tweet, PIB said that “renting of residential unit taxable only when it is rented to business entity️." It further clarified that “no GST when it is rented to private person for personal use; no GST even if proprietor or partner of firm rents residence for personal use."&…