In GST 32 council proposed to compound tax at 6% on service up to limit of Rs50 lakhs. presently paying GST 18% (9+9) on RENTAL service income of Rs 35 lakhs per annum. Can I change to compound system as service income is below 50 lakhs; and if so what is the procedure to change over. please guide.
Let final notification be issued.
As such the amendment will be applicable from 01.04.2019.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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