ICICI

gst on rent received commercial property


Nilesh Wakodikar (Employees)     22 May 2019

Nilesh Wakodikar
Employees 
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if property owner received rs. 25000 rental income monthly and salary income received is this applicable for gst registration. aggregate total turnover less than 20 lakh

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Harish Panjwani (learner)     22 May 2019

Harish Panjwani
learner 
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No, as aggregate turnover remains below 20 lakhs.

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Shivam RC (Student)     23 May 2019

Shivam RC
Student 
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Salary income is out of the purview of GST by virtue of Para 1 of SCHEDULE III of the CGST Act 2017. Hence no GST on Salary income.

As far as Rental income is concerned, Rent received from a "Commercial Property" is leviable to GST. Residential Property let out for Residential purpose is EXEMPTED by Notification No. 12/2017, CT ( RATE ) dated 28.06.2017.

Since your Aggregate Turnover does not exceed the threshold limit of Rs.20 lakhs, you are not required to take Registration under GST.

Warm Regards.

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