CBIC GST Rate House Rent: new in the country year 2023 Has started. Good news is coming one after the other. Now another good news is coming out. According to media reports, the Central Board of Indirect Taxes and Customs (CBIC) has issued a notification. According to this, a proprietor will not have to pay Goods and Services Tax (GST) from January 1, 2023, on renting out a house for residential use. This decision of CBIC has been taken after the suggestions given in the GST Council meeting held on December 17 last month.
Know what is notification
According to the CBIC notification, it has been clearly stated that from the new year i.e. January 1, 2023, any residential unit which is rented out to the proprietor of the registered unit has been excluded from the purview of GST. But there is a condition that that residential unit should be used only in individual capacity. CBIC also clarified that if a property is being used for proprietary purposes, then its owner will be liable to 18 per cent GST under the reverse charge mechanism.
percent tax on ethyl alcohol
Other things have been mentioned in the notification of CBIC on which there has been a change in tax from January 1, 2023. For example, ethyl alcohol supplied to the refinery for adulteration with petrol, on which 5 percent tax will start from January 1. Till now 18 per cent tax was being levied on ethyl alcohol.
pulse husk tax free
Apart from this, there will be no tax on the husk of pulses. Earlier 5% GST was levied on it. While 12 percent GST will now be imposed on beverages made from fruit juices.