Composition gstn with rental income

1255 views
User Avatar

192 Points Posted on 22 April 2019

Hi Members

Please let me know for the following query.

An individual has retail trading business of hardware items (Sales in 2018-19 - Rs. 18 lakhs) and he also earns rental income from commercial property (Rs. 12500 p.m.). Is he eligible to take Composition GSTN? If yes, what rates will apply to his business/income?

Thanks

0 Reply Share Follow Topic
On 22 April 2019 at 18:39 Report
Replies (5)
User Avatar

1533 Points Posted on 22 April 2019
From 1st April, 2019 As per Notification 2/2019- central Tax Rate supplier of service or goods or both can pay composition tax of 6%(3% + 3%) upto 50 lakhs. So you can opt for composition scheme under the said notification

In my opinion first check whether registration itself will be required as TO is less than 20 lakhs (18 lakh + 1.5 lakhs).
Reply
On 22 April 2019 at 19:11
User Avatar

other
72 Points Posted on 22 April 2019

Aggregate turnover remains below 20 lakhs. No need of registration at first.

Voluntary registration can be obtained.

Composition scheme rate will be same as 1%, because service supply is less than 10% of aggregate turnover.

Basic condition applies, no interstate outward supply.

3 Reply
On 22 April 2019 at 19:27
User Avatar

1533 Points Posted on 22 April 2019
agreed with above view. since supply of service less than 10% / rs 5 lakh u can take 1%
1 Reply
On 22 April 2019 at 19:55
User Avatar

55 Points Posted on 02 May 2019
Under which section /Notification he pay 1% of total turnover including rental income,if his rental income is below 5 lacks or 10% of his turnover
Reply
On 02 May 2019 at 23:42
User Avatar

55 Points Posted on 02 May 2019
Can he cancel his registration as his total turnover including rental income is below new limit i.e 40 Lacks
Reply
On 02 May 2019 at 23:44

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &amp
  2. Query to Tax Garden tax consultant
  3. Subject: Urgent Assistance Required – TRACES
  4. Claiming business re-imbursements while filing GST
  5. E-waybill 14 Digit Numbring
  6. Non filing of MGT-14 for MD appointment
  7. HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
  8. Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
  9. MR AASHOK KUMAR SHARMA
  10. NIC codes for FIRMS registration of entity

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
Featured 29 October 2026
Accounts Executive

Synergy Keystone

Chennai

B.Com

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
10 November 2026
FP&A Executive

Gujarat Guardian

Ankleshwar

CA Final

View Details
Company
12 November 2026
Tax Product Specialist

BharatX.ai

Gurgaon

B.Com

View Details
Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details
Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details