Rental income gst and it purpose
This query is : Resolved
16 September 2026
Sir,
A person rental income yearly rs:25 lacs composition scheme registration
Old years 24 and 25 and 26 years rental income present year 26-27 received
Question:
Treatment of gst and it returns purpose rental income transaction
A person rental income yearly rs:25 lacs composition scheme registration
Old years 24 and 25 and 26 years rental income present year 26-27 received
Question:
Treatment of gst and it returns purpose rental income transaction
16 September 2026
For a commercial rental income of ₹25 Lakhs under the Composition Scheme, GST is payable at a flat rate of 6% without passing the tax burden to tenants or claiming ITC. Arrears for FY 2023-24 through FY 2025-26 received in FY 2026-27 must be carefully categorized: if recognized and billed under current composition registration, they incur a 6% tax, whereas unbilled past non-compliance may attract standard 18% GST plus interest. Regular compliance involves submitting quarterly CMP-08 statements and filing an annual GSTR-4 return.
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