threshold limit of Gst Calculation

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RK AND ASSOCIATES (Querist)

11 October 2017 Client receives rental income which doesn't exceed 20lacs and client is a individual & director of company and Received professional fees on which reverse charge applicable so how to calculate Gst threshold limit Rental income +Professional fees (reverse charge 9(3))

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

11 October 2017 aggregate turnover” means the aggregate value of all taxable supplies, excluding the value of inward supplies on which tax is payable by a person on reverse charge basis, exempt supplies, exports of goods or services or both and inter-state supplies of persons having the same Permanent Account Number, to be computed on an all-India basis but excludes Central tax, State tax, Union territory tax, Integrated tax and cess. No inward supply under RCM includible in it . So you have to calculate threshold as per rental income.e only

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RK AND ASSOCIATES

RK AND ASSOCIATES (Querist)

11 October 2017 but here reverse charge is not inward it is outward reverse charge 9(3)

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

12 October 2017 Ohh yes then same is includible in turnover......

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RK AND ASSOCIATES

RK AND ASSOCIATES (Querist)

12 October 2017 Thank you madam for your answer......

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