04 September 2017
one of my client own a retail business and is a registered dealer too. He has let out some Immovable assets and earns rental income. Rentals are very low and under the limit of 20 Lacs. I need to know the applicability of GST on rentals and do i need to add rentals when I am filing FORM 1 for thee retail business
04 September 2017
The rental income is also GST applicable. Bcoz, he is registered. So, his all income under GST. If it's taxable then he ll collect GST....
04 September 2017
Commercial Rental Income is taxable supplies, chargeable for GST.
Residential would not to charge to gst.
Though counted in turnover i.e total supplies made during the period.
CAclubindia
