Here is a guide for the
GST waiver for NRI.
The specific rules and rates vary depending on the type of property and the nature of the transaction.
If an NRI has bought a residential property from a developer, GST is applicable at the rate of 5% on the value of the property.
For commercial properties, GST is applicable at different rates depending on the type of property and the location. The rates could vary from 12% to 18% in most cases.
When an NRI buys a resale property, GST is not applicable. The transaction attracts stamp duty and registration charges, but not GST.
If the property is under construction and the developer is selling it to an NRI, GST is generally applicable at 5% for residential properties.
If an NRI is renting or leasing out their property in India, GST is not applicable on the rental income.
This answers your query is buying property in India as NRI.
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A year ago I had the same query and learned that yes, an NRI can apply for the GST number. You have to submit an application online using the FORM GST REG-09 along with your password’s self-attested copy. You can read more about the process here-
How can an NRI register himself for GST?
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Read More:Can NRIs purchase agricultural land in India?
How can NRIs purchase a property in India?
I am an NRI planning to buy a property in India which would be used for family residential purposes. So while buying the property can I register myself for a GST number and obtain a GST return benefit on the GST tax paid during the deal?
Wasim
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2023-05-17T09:06:25+00:00 2023-05-25T09:17:30+00:00Comment
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