if I am getting rent on property and a lodge turnover below 40 lac. can I get composition scheme with tax rate 6%..
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Quick Summary
If you receive rental income from property and your turnover is below ₹40 lakh, you may be eligible for the GST composition scheme. This scheme allows for a reduced tax rate of 6%. However, businesses involved in selling or manufacturing alcohol are disqualified. Service providers can opt for the composition scheme up to ₹50 lakh turnover.