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TMI BlogREGISTRATION OF VERTICALS IN SAME STATEX X X X Extracts X X X X X X X X Extracts X X X X ..... A Individual have income from Rent along with trading business. may he apply for separate registration for rent and trading according to provision of section 25 (2) of cgst act by considering it that individual person having multiple verticals one rent and other trading if turn over of trading and rent both separately less than ₹ 20 L . registration needed for both verticals - Reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... By THYAGARAJAN KALYANASUNDARAM - The Reply = Dear sir, As per the GST Act, you may have two registration since, different nature of activity, these will be treated as establishment of distinct persons for the purposes of CGST Act sec 25(5). Whereas for the turnover calculation the threshold limit of rs. 20 lakhs(other than special category states) as follows. Supply of Goods or serv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ices or both if your aggregate turnover in a financial year exceeds rs. 20 lakhs to get register under sec 22(1) of CGST Act. If rent and trading of business turnover not exceeds rs. 20 lakhs individually in a financial year and registered as business verticals, but your aggregate turnover exceeds the above limit, then you have to get register yourself. Note: if the rent against resident ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ial dwellers, then it is not covered under the GST regime. - Reply By Ganeshan Kalyani - The Reply = Also one should consider the pain of conplaince. Separate registration means separate compliance, separate assessment, audit etc. - Reply By Kishan Barai - The Reply = No need for separate Registration , you can add more HS Code in same Business while filling or amend GST. If you need differ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent Registration, place of Premises should be different along with PAN Bank account - Reply By Ganeshan Kalyani - The Reply = Separate registration can be taken for different business vertical of same entity. - Reply By Kishan Barai - The Reply = Agreed but turn over of both firms would be treated as combined. 2 URD firm showing 10 , 10 Lacks turn over would be treated as 20 Lacks - Reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... By Ganeshan Kalyani - The Reply = Correct. - Reply By Ganeshan Kalyani - The Reply = Yes , i agree. - Reply By KASTURI SETHI - The Reply = In the situation explained by the querist, separate registration in same State is not compulsory. For arriving at threshold exemption limit, turnover will be clubbed - REGISTRATION OF VERTICALS IN SAME STATE - Query Started By: - CA.ANCHAL RASTOGI Date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d:- 20-7-2017 Goods and Services Tax - GST - Got 8 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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