9911796707
TMI BlogRENTAL INCOMEX X X X Extracts X X X X X X X X Extracts X X X X ..... RENTAL INCOME X X X X Extracts X X X X X X X X Extracts X X X X ..... e GST) on other hand what will be status if BANK pay GST under RCM. Reply By KASTURI SETHI: The Reply: You are liable to pay GST on rental income if you cross threshold exemption. Renting is not under RCM. Reply By MARIAPPAN GOVINDARAJAN: The Reply: I endorse the views of Shri Sethi. Reply By Subodh Modak: The Reply: Sir, A different question. I was having vat no and now gst no. I hv taxab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le turnover in trading activity. Also having rental income from commercial property which is less than 5 lakhs per year. I am the proprietor of trading business. Do I need to charge gst now on rental income? Is excees credit of trading activity can be Set off aganist tax charged on rental? Subodh Modak Reply By MARIAPPAN GOVINDARAJAN: The Reply: Yes, you have to charge GST on rental income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . GST registration is common for goods and services. It is supply of services or goods or both. If your aggregate turnover in all your activities exceeds ₹ 20 lakhs per year you have to charge GST and pay to the credit of the respective Government. Reply By Ganeshan Kalyani: The Reply: You have mentioned that your turnover is less than the threshold limit. Hence you are not liable to regis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter under GST. Bank has to pay GST under reverse charge. X X X X Extracts X X X X X X X X Extracts X X X X
|
