GST ON commercial Properties
This query is : Resolved
Quick Summary
03 October 2024
A) GST Registered Landlord
B) given property on rent (Commercial use) to
C) GST Registered Tenant
1. Whether rental income and gst on rental income to be shown under my Steel business gstin ? Property was not purchased under my firm name it was purchased as an Individual.
2. How to maintain PROPRIETORSHIP FIRM books as rental income received in proprietor personal savings account?
3. Whether new GST registration is required for my Rental Income ?
B) given property on rent (Commercial use) to
C) GST Registered Tenant
1. Whether rental income and gst on rental income to be shown under my Steel business gstin ? Property was not purchased under my firm name it was purchased as an Individual.
2. How to maintain PROPRIETORSHIP FIRM books as rental income received in proprietor personal savings account?
3. Whether new GST registration is required for my Rental Income ?
03 October 2024
1. Depends upon your choice. The GST law allows a single legal entity to obtain separate GST registrations for distinct business verticals if it chooses; however, it is also permissible to operate multiple verticals under a single GSTIN if they do not opt for separate registrations.
2. Steel business may not include rental income., Let it be declared separately,
3. Yes, as different business vertical.
2. Steel business may not include rental income., Let it be declared separately,
3. Yes, as different business vertical.
11 October 2024
Good luck ....
13 October 2024
Hi sir...
In case of two business Verticals under the same GSTIN i.e is one is rental of immovable property and another is steel business
Can i use the excess ITC (after setting off) of steel business with the GST payable on my rental income ?
kindly explain !! Thanks in advance..
In case of two business Verticals under the same GSTIN i.e is one is rental of immovable property and another is steel business
Can i use the excess ITC (after setting off) of steel business with the GST payable on my rental income ?
kindly explain !! Thanks in advance..
13 October 2024
No, that is not eligible.
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