Composition Scheme under GST on rent
This query is : Resolved
Quick Summary
U S Sharma
(Querist)
18 September 2024
Rental service of non residencial property,
the landlord is not registered under GST, and in coming years the threshold limit of 20 Lakhs will cross by few thousand rupees
No other business activity of the individual, as he is a aged and retired person
May the landlord aval benefits under composite levy scheme of GST?
Can he get relief of mandatory rgistration of GST after 20L, under the present update of 54th GST council meeting update, i.e commercial property rentals under RCM charge mandaroty?
Please reply
the landlord is not registered under GST, and in coming years the threshold limit of 20 Lakhs will cross by few thousand rupees
No other business activity of the individual, as he is a aged and retired person
May the landlord aval benefits under composite levy scheme of GST?
Can he get relief of mandatory rgistration of GST after 20L, under the present update of 54th GST council meeting update, i.e commercial property rentals under RCM charge mandaroty?
Please reply
CA R SEETHARAMAN
(Expert)
19 September 2024
No relief GST registration is required and forward charge applicable when 20L limit crossed.
You can register under composition scheme of GST upto 50 lacs rental income.
You can register under composition scheme of GST upto 50 lacs rental income.
Message likes :
1 times
U S Sharma
(Querist)
19 September 2024
Thanks
if the GST is applied the4 value will increase, and under the provisions of finance bill 2024, the Income from house property the decuction limit would be followed of 30% or it would go under Profit and Gains of Business and Profession?
as without business accounting method, the income tax would be also levied on GST receipt, if the capping as per FM speech in budget 2024 @ 30% is followed
Please advice
if the GST is applied the4 value will increase, and under the provisions of finance bill 2024, the Income from house property the decuction limit would be followed of 30% or it would go under Profit and Gains of Business and Profession?
as without business accounting method, the income tax would be also levied on GST receipt, if the capping as per FM speech in budget 2024 @ 30% is followed
Please advice
CA R SEETHARAMAN
(Expert)
20 September 2024
Show only rental income. Show GST as liability payable.
It's only rental income for which 30% deduction allowed. It's not a business income.
It's only rental income for which 30% deduction allowed. It's not a business income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Oct 2025 Invoices
- MSME disclosure and disallowance
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
