Hello,
We are three friends and two of us run a proprietor concerns and other is a partner in a firm..
We joint hold an commercial property and rent for same is receivedin 3 different names.. proportionately..
Both the sole proprietor having business turnover greater than 50 Lakh is registered with GST. Our normal course of business involves supplies of goods. The property fetches us commercial rental income of 100,000 monthly (i.e. 12,00,000 annual) induviduvupdate..
As per normal practice, TDS is deducted. Does the proprietor have to raise a GST invoice and charge GST 18% on the rent being received in this case ? And file return under his normal GST returns along with his business returns clubbed WTH rental ..
Also does the partner have to make a new GST registration for his individual capacity and also file that return as an individual
CAclubindia
