04 July 2020
Dear Sir/Madam, Scenario: In FY 2018-19 my rental income from Commercial building was Rs. 19,00,000 and i'm not registered under Gst, in June 2020 i had received arrears of rent for the period FY 2018-19 Rs. 2,00,000. My question is whether should i get registered and pay GST prospectively or should i get registered under GST and pay Tax retrospectively when turnover crosses Rs. 20,00,000 (i.e Rs. 21,00,000 in this case including arrears of rent which is i came to know in June 2020), and on which amount should i need to pay gst whether on whole amount i.e Rs. 21,00,000 or only on Rs. 1,00,000
CAclubindia
