Dear friends,
One of my client had taken GST registration for his trading business in hardware items. He is also having cab services earlier in parallel. My query is whether we have to account the service income received from cab services together with trading income from business in GSTR-1? Registration had been taken only for trading business but both business are under same PAN.
Requesting for your valuable response.
Menu
Different business verticals
Replies (2)
Since the GST registration is only for the trading business in hardware items, you should not account for the service income from cab services in GSTR-1.
GSTR-1 is used to report supplies (sales) related to the registered business, which in this case is the trading business.
The cab services are a separate business and require a separate GST registration.
Since they are under the same PAN, your client should consider registering the cab services under GST as well.
If your client wants to consolidate both businesses under a single GST registration, they can apply for a separate GST registration for the cab services or opt for a single registration for all businesses under the same PAN.
However, currently, you should only report the trading income from the hardware business in GSTR-1 and maintain separate records for the cab services. Consult a tax expert or the GST helpdesk for further guidance.
Different business verticals can be shown easily.
Recent Topic
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
Related Topics
CAclubindia
