GST on commercial rental income
This query is : Resolved
14 June 2017
Dear Sir
i have leased my property to branded readymade store. our annual rental income is below 20 lac per annum. we also paid urban development tax as per commercial rates to government
earlier we registered for service tax returns and filled nill returns as per process because rental income not exceeding 10 lakhs that time, and therefore we received provisional userid and password for enrolling in GST
do i need to enroll to gst and need to file gst returns
if yes in what frequency do i need to file return
if no, then do i need to apply for cancellation of gst or service tax number
please assist
15 June 2017
kindly assist and guide
17 June 2017
If you are currently registered under Service Tax law, then migration under GST is mandatory, irrespective of your taxable turnover value. GST return needs to file montly, therefore it is recommended to migrate under GST and then apply for cancellation of GSTIN. Or you can apply for cancellation of service tax registration within 10 days. Call is yours
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