Mr A sole proprietor doing paint supply business. He also let out one of his building for commercial purpose, were he is charging 18% GST.
Can he consider the entire out put tax charged on paint business and rent service as one
Egs
Output tax on rent 1000
Output tax on sale of paint 1000
Total output tax 2000
Less input tax paid on
purchase of paint 2000
(assuming purchase is
more than sales and
hence more input
credit)
CAclubindia
