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Rental income -GST regime

25 July 2017

Gross rental income exceeds 20lacs (residential purpose-15L & commercial purpose-10L).
So what will be my tax liability under GST?Also, do i have to register under GST?

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12 Replies

Manoj Agarwal (Properitro) (34 Points)
Replied 25 July 2017

Rental income from residential property is exempt from GST under mega exemption list and rental income from commercial property is taxable . However to derive the threshold limit of 20 lacs, aggregate turnover needs to be considered. Definition of aggregate turnover includes exempt supplies as well.

So registration is required in your case as value of taxable supply + value of exempt supply are exceeding 20 lacs.

CA NEHA RAMPURIA (Taxation Consultant) (1823 Points)
Replied 25 July 2017

yes, you need to get registered. coz aggregate turnover includes exempted supply too

vikram kerekar (1241 Points)
Replied 25 July 2017

than gst tax paid on taxable income or gross income?

sunil kumar sharma (jr accountant) (708 Points)
Replied 25 July 2017

taxable income

vikram kerekar (1241 Points)
Replied 26 July 2017

sir, but in gst retun i have shwon only taxable income as well as exampted income . which income i have shwon in gst retrun.

sunil kumar sharma (jr accountant) (708 Points)
Replied 26 July 2017

both income

vikram kerekar (1241 Points)
Replied 26 July 2017

but gst paid on both income or what

sunil kumar sharma (jr accountant) (708 Points)
Replied 26 July 2017

gst only paid on taxable supply not income

Kinjal Lapasia (Tax Consultant) (45 Points)
Replied 26 July 2017

I would like to elaborate this point little bit. For example is owner property is residential property and the same is given on a rent. And tenant is using this property for commercial purposes then whether GST is payable?