Do a composite dealer (medical stores) who is getting monthly rental income Rs 10,000/- on let out of a property for commercial purpose has to pay GST on this rental income? How can we treat this income in GST point of view?
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Composite dealer getting monthly rent rs 10,000/-
Replies (5)
Renting property for furtherance Buniess for a consideration , GST applicable as per section 7 of the CGST act 2017
If You (under composition) are received rental income then You are not eligible for Composition Scheme...
Mr Raja is correct , I hav not seen composition ,sorry. due to oversight
Thank you so much for your reply
Do I need to convert to regular and collect tax @ 18%?
Yes... You can convet from Composition to Regular..
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