I am proprieter of factory.Factory has GST No.For that my pan no.is registered for GST No. Now,i want to give factory on rent,say Rs.12 lakh/annum.Again my pension income is Rs 3 lakh.i e my personal income is Rs.15 lakh.I personally do not have GST. no.But factory has it.Then ,do I
require to pay gst on rent I receive? Again,shall I tell the person who runs my factory on rental basis to use his gst no.& then shall I cancelled my gst no.as I won't be doing purchases or seles.Then in this case still I have to pay gst on the rent I receive?
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Factory proprieter,gst no.of factory,then the on rent of factory gst applicable?
Replies (3)
yeah you can because there have some terms & conditions are applicable where GST law have limits which is 20 lac /pa
then you required gst no. otherwise not
then you required gst no. otherwise not
Kindly answer the two questions I ask for
As you are a proprietor, GST no of factory and proprietor is same thing. You are required to pay GST on rent received as you are a registered person under GST law. Threshold limit of Rs. 20 lakh is consider for registration purpose only, not for tax liability. once a person register under GST, he has to pay tax.
As tenant will pay GST on his taxable supplies only. you still have to pay tax on rent received.
As tenant will pay GST on his taxable supplies only. you still have to pay tax on rent received.
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