1)I am composition dealer having retail medical shop, Also I have a commercial property which I want to give on rent @ 35000 per month. what will be the legal aspect
2)is there any way by which I can transfer the rental income to my wife without transfer of property
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composition dealer can have rental income?
Replies (3)
1. You will have to opt out of composition scheme.
2. No ..
composition dealer can provide services up-to 5 lack, as discussed in 28 gst council meeting, any notification regarding this
It is amendment in GST act, that from 01.02.2019, composition dealer can supply services upto 10% of the aggregate supplies, or upto Rs.5 lakhs maximum.
From 01.04.2019 composition dealers are allowed to supply services or mixed supply of services with goods at 6% GST, but upto maximum 50 lakhs limit.
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