Menu
GST REGISTRATION REG
I have only bank FD interest income About Rs.700000/ and now I get a commercial property as gift from my father .Now I would like to let out the said property to commercial purposes Rent Per month is Rs.150000/ total rental income during this year around Rs.1800000/ shall I Register with GST department for tax Payment or not because my total turnover crosses Rs.20 Lakhs(700000+1800000=2500000). Kindly clarify.
Replies (14)
Yes, you have to register under section 22 because aggregate turnover includes exempt supplies.
I think u no need to register . since interest income cannot be included in your turnover.
Rental income p.a. doesn't exceed the limits .Hence you no need to register in my opinion.
Rental income p.a. doesn't exceed the limits .Hence you no need to register in my opinion.
When you're rent exceed 20lakh or say 20 lakhs
then you register otherwise not
then you register otherwise not
I agree with sumanth total turnover include the exempt supplies therefore interest to include for total TO and registration is applicable
Agree with Mr. Sumanth reply, Turnover includes FDR interest
Commercial Let out will come under Taxable income so you need to Register must.
Notification no. 12/ 2017 (central tax rate) dated 28.06.2017
As per this notification exempt supplies includes interest received by way of extending deposits . Hence I too agree with sumanth
As per this notification exempt supplies includes interest received by way of extending deposits . Hence I too agree with sumanth
But the Exemption was enhanced to 40 lakhs....
no need to register
no need to register
@ murali that is applicable for supply of goods
That exemption is for supply of goods but here our friend is involved in providing service so he can't claim that exemption.
@ maharaj selva eswar and Sumanth
thanks for Clarification 🙂
thanks for Clarification 🙂
| Originally posted by : MEENA VIVEK | ||
 |
I have only bank FD interest income About Rs.700000/ and now I get a commercial property as gift from my father .Now I would like to let out the said property to commercial purposes Rent Per month is Rs.150000/ total rental income during this year around Rs.1800000/ shall I Register with GST department for tax Payment or not because my total turnover crosses Rs.20 Lakhs(700000+1800000=2500000). Kindly clarify. |  |
Interest Income is not required to be included in Compuation of your aggregate Turnover. So compute ur agg, T/o excluding interest Income
In the given case GST registration is not required prima facie.
Interest will come when it's not personal but it's linked with your business and service
Recent Threads
- ITRs for AY 2025-26 filed in September 2025 not pr
- Heard & Seen Around – Your Daily Economi
- Best NISM course for an Accountant
- Calculate IT on LTCG AND STCG for the FY 2025-26
- Heard and Seen Around - Your Daily Economic Quick
- Returning to India - Residency confusion
- About CMP-08
- RCM List on GST
- Resignation of Previous Auditor
- Summary of GST Notification 18/2025 (Effective 1 N
Related Threads
CAclubindia
