Dear Sir,
I am an Industrialist. My previous annual turnover is 90lacs. I am registered in GST as my sales will be near around 90lacs annually.
I have also rented some industrial sheds, for which i receive rent.
i want to know, whehter 20lacs limit of rent income applies on me as i am already registered in gst and my turnover is 90lacs.
and if no then what is gst rate on rental income of indusrtial shed.
and does i will get its credit or not.
please guide me.
1) Aggregate turnover includes taxable,exempt, non taxable supply (90lakhs + rental income)
2) Yes turnover includes Rental income
2) GST is applicable on rented industrial shed ,GST Rate is 18%
3) You can take Input tax credit of all input ,input services, (telephone charges and like) capital goods
4) Single registration is required .
1) Aggregate turnover includes taxable,exempt, non taxable supply (90lakhs + rental income)
2) Yes turnover includes Rental income
2) GST is applicable on rented industrial shed ,GST Rate is 18%
3) You can take Input tax credit of all input ,input services, (telephone charges and like) capital goods
4) Single registration is required .
Above is true if both business income and rental income are under same PAN.
CAclubindia
