Rental income liable to gst?
This query is : Resolved
VIJAY MANE
(Querist)
25 July 2017
If a retailer businessman is registered for gst under composition scheme & his turnover from his business is about 35 lakh per annum.
& also he earns income about 3 lakh a year from his residential property & 3 lakh a year from his commercial property registered in his name .
Is the rental income applicable to GST ?
ALSO is he liable to avail composition scheme as he deals for his business income along with rental income .
Reply is a must
my email id vijaybmane786@gmail.com
& also he earns income about 3 lakh a year from his residential property & 3 lakh a year from his commercial property registered in his name .
Is the rental income applicable to GST ?
ALSO is he liable to avail composition scheme as he deals for his business income along with rental income .
Reply is a must
my email id vijaybmane786@gmail.com
Ankit Agrawal
(Expert)
25 July 2017
Hi Vijay,
GST Applicable on rent of commercial property but not on rent of residential property.
He is not liable to avail composition scheme but he can avail composition scheme subject to certain conditions.
Regards,
CA Ankit Agrawal
GST Applicable on rent of commercial property but not on rent of residential property.
He is not liable to avail composition scheme but he can avail composition scheme subject to certain conditions.
Regards,
CA Ankit Agrawal
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